Investors owned 15 percent of all single family houses in the U.S. in the year 2000, with a value of fixed assets that dwarfed that of any single manufacturing industry, and approached that of the entire manufacturing sector. Owner occupied and investor owned houses are functionally identical...

A seminal work in the mid-nineties finds that airlines charge higher fares in markets where they engage in extensive multimarket contact, thus empirically attesting to industry expert claims that airlines live by the 'golden rule' (i.e., avoid undercutting in jointly contested routes). Our...

Although recent international broadband penetration rankings have Congress concerned about U.S. broadband policy, these statistics should not play a large role in forming U.S. broadband policy, as they fail to take into account geographic factors, demographic factors and consumer preferences...

China is believed to have the world's largest exploitable reserves of shale gas, although several legal, regulatory, environmental, and investment-related issues will likely restrain its exploitation. China's capacity to face these hurdles successfully and produce commercial shale gas will have...

Using US micro price data at the city level, we provide evidence that both the volatility and the persistence of deviations from the law of one price (LOP) are rising in the distance between US cities. A standard, two-city, stochastic equilibrium model with trade costs can predict the...

From December 2014 to June 2015, the U.S. poultry industry experienced an outbreak of highly pathogenic avian influenza (AI), resulting in considerable bird depopulations. Both turkey and egg producers were impacted and farms affected faced losses from costs of bird disposal and farm...

In the second direct challenge to the NCAA's amateurism rules, the Northern District of California court rejected an attempt by the NCAA and 11 conferences to dismiss claims that defendants violated antitrust law by “conspiring to impose an artificial ceiling on the scholarships and benefits...

Before 1978, most of the U.S. domestic copper production and an important fraction of the imports were traded at a price set by the major U.S. producers. Simultaneously, the rest of the world was trading copper at prices determined in auction markets. This two-price system ended in 1978, when...

This paper presents US and euro area estimates for a fully heterogeneous model, in which there is a continuum of firms setting prices with a constant probability of adjustment, which may differ from firm to firm. The estimated model accurately matches the empirical distribution function of...