Married women in the United States are increasingly integral to their families' economic wellbeing. With two-earner families becoming the norm, little research investigates the role of wives in family income mobility. How much does a wife's labor market activity matter in her family's ability to...

Although the recent wave of mortgage foreclosures has clearly been accompanied by economic hardship, relatively little research has examined how foreclosures affect the academic performance of students. This paper investigates the relationship between mortgage foreclosures and the academic...

Economists often expect unemployment insurance (UI) benefits to elevate unemployment rates because recipients may choose to remain unemployed in order to continue receiving benefits, instead of accepting a job or dropping out of the labor force. This paper uses individual data from the Current...

Aside from effects on nearby property values, research is sparse on how foreclosures may generate negative externalities. Employing a unique dataset that matches individual student records from Boston Public Schools - including test scores, demographics, home address moves, and school changes -...

This paper develops new measures of environmental costs and local revenue capacity as the basis for a new municipal aid formula in Massachusetts. On the cost side, unlike previous studies, we quantify the effects on local non-school spending of characteristics related to uncontrollable costs. On...

Much of America's promise is predicated on economic mobility - the idea that people are not limited or defined by where they start, but can move up the economic ladder based on their efforts and accomplishments. Family income mobility - changes in individual families' income positions over time...

Much of America's promise is predicated on the existence of economic mobilitythe idea that people are not limited or defined by where they start, but can move up the economic ladder based on their efforts and accomplishments. Family income mobilitychanges in individual families' real incomes...

One contributor to the twentieth century rise in married women's labor force participation was declining responsiveness to husbands' wages and other family income. Now that the rapid rise in married women's participation has slowed and even begun to reverse, this paper asks whether married...

We explore the design of climate stress tests to assess and manage macro-prudential risks from climate change in the financial sector. We review the climate stress scenarios currently employed by regulators, highlighting the need to (i) consider many transition risks as dynamic policy choices;...

We propose a new class of dynamic order book models that allow us to 1) study episodes of extreme low liquidity and 2) unite liquidity and volatility in one framework through which their joint dynamics can be examined. Liquidity and volatility in the U.S. Treasury securities market are analyzed...