We study the impact of the Community Reinvestment Act (CRA) on access to consumer credit since 1999 using an individual-level panel and three distinct identification strategies: a regression discontinuity design centered on a CRA-eligibility cutoff; a comparison of neighboring census blocks; and...

We study the impact of the Community Reinvestment Act (CRA) on access to consumer credit since 1999 using an individual-level panel and three distinct identification strategies: a regression discontinuity design centered on a CRA-eligibility cutoff; a comparison of neighboring census blocks; and...

We study the impact of the Community Reinvestment Act (CRA) on access to consumer credit since 1999 using an individual-level panel and three distinct identification strategies: a regression discontinuity design centered on a CRA-eligibility cutoff; a comparison of neighboring census blocks; and...

Racial profiling-the use of race, ethnicity, or national origin by law enforcement officials to make judgments of criminal suspicion-is assessed in terms of its effect on targeted populations and on law enforcement efficiency. A mathematical simulation, comparing multiple profiling and...

When anticipating the administration of the death penalty, mock jurors may be less inclined to convict defendants. Furthermore, minority defendants have been shown to be treated more punitively. We conducted a survey-embedded experiment with a nationally representative sample to examine the...

Banks in the syndicated loan market have increased their distant lending over the last three decades. Lead banks play a role in participant banks' distant lending decisions but not in a way entirely consistent with them acting as “delegated” monitors. This is partly because participant banks...

This paper empirically investigates banks' investment allocations over the recent business cycle. I identify unsolicited deposit shocks resulting from unconventional energy development and estimate bank allocations of these deposits. In the pre-recession period, banks lend 38 percent of...

We document trends in affective polarization during the coronavirus pandemic. In our main measure, affective polarization is relatively flat between July 2019 and February 2020, then falls significantly around the onset of the pandemic. Two other data sources show no evidence of an increase in...

We provide new evidence on the drivers of the early US coronavirus pandemic. We combine an epidemiological model of disease transmission with quasi-random variation arising from the timing of stay-at-home-orders to estimate the causal roles of policy interventions and voluntary social...