We study the effect of personal wealth on entrepreneurial decisions using data on mineral
payments from Texas shale drilling to individuals throughout the United States. Large cash …

The energy transition away from fossil fuels, despite its substantial overall climate benefits,
presents significant transition risks for communities historically built around the fossil fuel …

Little is known about the motivations and outcomes of sellers in remunerated markets for
human materials. We exploit dramatic growth in the US blood plasma industry to shed light …

Crowdfunding is an increasingly popular way to raise emergency funding after disasters.
However, for victims of a recent major Colorado wildfire, we find that crowdfunding raised …

Between 2010 and 2020, the US coal industry experienced a 50% drop in production,
employment, and active mines, driven by regulatory factors and technological innovation in …

We combine state minimum wage changes with individual‐level income and credit data to
estimate the effect of wage gains on the debt of low‐wage workers. In the three years …

In recent years, Chinese household financial debt has been growing rapidly due to the
expansion of mortgage lending. This study aims to examine the impact mechanism of …

In this paper, we investigate the effects of a coal bust on urban growth. Using a difference-in-
differences framework, we find that China's 2012–2015 coal bust significantly reduced the …

For over a century, Spain has conducted a national lottery which often results in the random
allocation of large cash windfalls to one town. Leveraging data on lottery ticket expenditures …

Using detailed household data, we find that households working in locally agglomerated
economies have high mortgage loans and are more likely to have mortgage loans. Channel …