We use large-scale surveys of Chilean college applicants and college students to explore the way students form beliefs about earnings and cost outcomes at different institutions and majors and how these beliefs relate to degree choice and persistence. Linking our survey records to administrative...

This paper studies the equilibrium effects of information restrictions in credit markets using a large-scale natural experiment. In 2012, Chilean credit bureaus were forced to stop reporting defaults for 2.8 million individuals (21% of the adult population). Using panel data on the universe of...

This paper uses a large-scale natural experiment to study the equilibrium effects of restricting information provision in credit markets. In 2012, Chilean credit bureaus were forced to stop reporting defaults for 21% of the adult population. Using panel data on the universe of bank transactions...