We analyse the puzzling behavior of the volatility of individual stock returns around the turn of the Millennium. There has been much academic interest in this topic, but no convincing explanation has arisen. Our goal is to pull together the many competing explanations currently proposed in the...

This paper highlights the role of polarization in higher education as a key factor to technological leadership as well as to labor market inequality. Higher education polarization refers to the widening gap between elite and non-elite universities, primarily in two dimensions: institutional...