“...We calculate the present value of state employee pension liabilities using discount rates that reflect the risk of the payments from a taxpayer perspective. If...”

“...This study isolates the causal effects of financial literacy and schooling on wealth accumulation using a new household dataset and an instrumental variables...”

“...The magnitude of mutual funds’ business ties with their portfolio firms is documented and is linked to funds’ proxy votes at specific firms and to overall...”

“...Measuring the extent to which a firm is financially constrained is critical in assessing capital structure. Extant measures of financial constraints focus on...”

“...Long regarded as a region beset by macroeconomic instability, high inflation, and excessive poverty and inequality, Latin America has undergone a major...”

“...The asset allocation of defined benefit pension plans is a setting where both risk-shifting and risk-management incentives are likely be present. Empirically,...”

“...The prevalence of nonstandard jobs is a matter of concern if, as many assume, such jobs are bad. We examine the relationship between nonstandard employment...”

“...The literature on path dependence has emphasized positive feedback effects that make it difficult to shift from a policy regime once it is in place. This...”

“...This article examines the capital structure implications of defined benefit corporate pension plans. The magnitude of the liabilities arising from these...”