The magnitude of and heterogeneity in systematic earnings risk has important implications for various theories in macro, labor, and financial economics. Using administrative data, we document how the aggregate risk exposure of individual earnings to GDP and stock returns varies across gender,...

Movements in the value of corporate assets are justified by changes in expected future cash flow. The appropriate measure of cash flow for valuing assets is net payout, which is the sum of dividends, interest, and net repurchases of equity and debt. When discount rates are low and equity...

There are marked differences in life expectancy between the regions of England, between the countries in the UK, and between the UK and other wealthy countries. Within England, prior to the COVID-19 pandemic, life expectancy at birth was more than two years higher in London and the South East...

A rich array of institutional diversity makes the United States an excellent place to study the relationship between political institutions and public policy outcomes. This essay has three main aims. First, it reviews existing empirical evidence on the relationship between institutional rules,...