This paper uses microeconomic data on firms’ money demand and investment in physical capital for the period 1983-2006 to estimate the extent to which variation in the U.S. money supply is an endogenous response to variation in firms’ demand for liquidity. We estimate a simple model in which...

We offer a new analysis of a large-scale trial of an early-childhood education program that targeted premature, low-birthweight children. This targeting heavily oversampled twins, whose outcomes differed significantly from singletons'. Singletons' gains in short-term cognition and age-18...

We analyze a large-scale trial of an early-childhood education program targeting premature, low-birthweight children, thereby oversampling twins. We find that failing to account for this oversampling obscures the program's benefits. Among singletons, treatment increased childcare hours and...

This paper uses new estimates of the dates on which different countries have experienced their demographic transition to address two empirical questions. First, I study the importance of different socioeconomic variables on the timing of these transitions. Second, I distinguish between countries...