Every time a consumer swipes a credit card, the merchant pays an interchange fee—typically around 1.9 percent of the transaction value—most of which funds the rewards that cardholders receive. Because ...

Mutual funds approaching the IRS 50/5/10 portfolio concentration limit trim large positions, reduce equity exposure, and subsequently underperform.

The shift to a managed care model for delivery of long-term services and supports was associated with a 0.9 percentage point (4.2 percent) increase in the quarterly risk of a hospitalization in ...

We build a model that combines (i) heterogeneous households with incomplete markets, and (ii) state-dependent pricing with strategic complementarities by firms, to analyze the effects of large ...

Nursing homes certified by the Centers for Medicare & Medicaid Services to provide care and receive public reimbursement through Medicare and Medicaid are subject to mandatory annual inspections.

The fertility decline is everywhere in the world today and goes back decades for rich countries. Birthrates have been below replacement in the U.S. and Europe since the mid-1970s. Completed cohort ...

These results provide a unified explanation for several asset pricing and forecasting puzzles, including: (i) the excess responsiveness of long-horizon rates to short rates, (ii) the dominance of ...

We examine pandemic related racial and ethnic disparities in test scores, absenteeism, and disciplinary incidents for K-12 students in the State of Connecticut through the 2024-25 school year. Notably ...

Boudreaux, Brandy Lipton, and Melissa McInerney, "When Medicaid Pays the Bill: Routine Vision Benefits, Eye Care Use, and Eyeglasses Spending Among Dual-eligible Medicar ...

There is a long-running debate over using standardized test scores to inform college and graduate admissions decisions, with some arguing that test scores are an important signal of academic strength ...

This paper shows that the currency in which traded goods are invoiced has a first-order implication for the short-run impact of tariffs on the economy. If prices are set in terms of producer’s ...

GLP-1 medications generate large weight loss and may also alter social and economic outcomes. Using the Understanding America Study, I compare women starting GLP-1s for weight loss with matched women ...