What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is...

What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is...

What is the socially optimal level of liquidity in a retirement savings system? Liquid retirement savings are desirable because liquidity enables agents to flexibly respond to pre-retirement events that raise the marginal utility of consumption. On the other hand, pre-retirement liquidity is...

Higher sales tax in the home country relative to a neighboring country creates a huge incentive for consumers who live closer to the border to purchase goods across the border. Using a unique panel dataset of consumer financial transactions, we find that, when facing higher domestic sales tax,...

Can children effectively nudge their parents to change their energy consumption behavior? This study sets up a quasi-experiment using the “Project Carbon Zero” campaign, an energy-saving contest in Singapore, to empirically test the effectiveness of school children nudges in bringing...

We use a unique dataset from a Singaporean taxi fleet consisting of 6,663 drivers with 23 months of daily work routines to test if taxi drivers exhibit learning by doing (LBD). We find strong evidence of LBD. Next, we document the channels of learning: drivers learn the most through technology...