We hypothesize that labor participation in governance helps improve risk sharing between employees and employers. It provides an ex-post mechanism to enforce implicit insurance contracts protecting employees against adverse shocks. Results based on German establishment-level data show that...

We study how the infusion of capital through SEOs affects employment through a technology channel. Using exogenous shocks on the eligibility to issue SEOs in China, we find that SEOs lead to more expenditures on technology-related assets, more high skill workers, and fewer low skill workers. Low...

If people face cognitive limitations or biases that lead to financial mistakes, what are possible ways lawmakers can help? One approach is to remove the option of the bad decision; another approach is to increase financial education such that individuals can reason through choices when they...

If people face cognitive limitations or biases that lead to financial mistakes, what are possible ways lawmakers can help? One approach is to remove the option of the bad decision; another approach is to increase financial education such that individuals can reason through choices when they...

The disproportionate burden of COVID-19 among communities of color, together with a necessary renewed attention to racial inequalities, have lent new urgency to concerns that algorithmic decision-making can lead to unintentional discrimination against members of historically marginalized groups....