This paper provides comprehensive theoretical and empirical analyses on bank lending under uncertainty. Our theory differentiates uncertainty from risk and shows that uncertainty-averse banks demand a premium in loan contracting for their exposure to the uncertainty. This premium gets larger as...

Climate change poses a significant threat to the development of young children, but its impacts are not well known because of data and methodological limitations. Using a unique panel study in disadvantaged rural communities, we find that exposures to low temperatures undermine subsequent...

Climate change poses a significant threat to the development of young children, but its impacts are not well known because of data and methodological limitations. Using a unique panel study in disadvantaged rural communities, we find that exposures to low temperatures undermine subsequent...