Using administrative criminal records from Texas, this paper shows how heat affects criminal defendants, police officers, prosecutors, and judges. It finds that arrests increase by up to 15 percent on hot days, driven by increases in violent crime. There is no evidence that charging-day heat...

Using a network approach to characterize the evolution of the federal funds market during the Great Recession and financial crisis of 2007-2008, we document that many small federal funds lenders began reducing their lending to larger institutions in the core of the network starting in mid-2007....