We show that the opioid crisis slows transitions to employment from unemployment and non-participation, implying slower recovery from recessions. We identify the effect of the opioid crisis from cross-state variation in triplicate prescribing regulations, which produced long-lasting reductions...

Vaccines influence the course of pandemics both directly, by protecting the vaccinated, and indirectly, by reducing transmission to the unvaccinated, a key externality. Estimating direct effects is challenging because of selective vaccine take-up; estimating indirect effects also poses...

We investigate the effect of the Risk Corridors (RC) program on premiums and insurer participation in the Affordable Care Act (ACA)'s Health Insurance Marketplaces. The RC program, which was defunded ahead of coverage year 2016, and ended in 2017, is a risk sharing mechanism: it makes payments...