The large economic costs of full-blown lockdowns in response to COVID-19 outbreaks, coupled with heterogeneous mortality rates across age groups, led to question non-discriminatory containment measures. In this paper we provide an assessment of the targeted approach to containment. We propose a...

The COVID-19 pandemic saw an unprecedented expansion of federal emergency rental assistance (ERA). Using applications to ERA lotteries in four cities linked to survey and administrative data, we assess its impacts on housing stability, financial security, and mental health. We find that...

In recent decades, there has been a clear trend towards the consolidation of banking. The first part of this paper reviews and contrasts different theoretical approaches that aim to explain that phenomenon. In the second and third sections, we present an analysis of the consolidation of banking...

In a paper delivered at the December 1955 meeting of the Econometric Society, Paul Samuelson noted that though economists had done "work of high quality and great quantity in the field of taxation," the theory of public expenditure had been "relatively neglected" (1958, 332). Anglo-American...

This paper reviews the history of the practice of quarantines, rediscovering the 19th century 'Sanitarian' movement in Britain that sprang from a recognition that quarantines had failed to stop the spread of diseases and were not cost-effective. To our knowledge, the key figure among the...

What social rate of return should the public sector pursue for spending that is intended to yield long-term benefits—that is, for “government investment”? People who favor less government spending support higher rates because they would discourage interventions, while people who favor more...