Our baseline specification predicts trading frictions and an inability to short sell bonds significantly improves sovereign debt prices, but policies that restrict CDS trading have small effects.

How do local government borrowing, default, and migration interact? We find in-migration results in excessive debt accumulation due to a key externality: Immigrants help repay previously issued debt.

We study the implications of incarceration for the earnings and employment of different groups, characterized by their race, gender, and education.

The authors forecast the effects of the COVID-19 pandemic on loan delinquency rates under three scenarios for unemployment and house price movements.

Months supply does better at predicting house price growth than many other relevant variables, such as the unemployment rate and the 10-year Treasury yield.

How has college tuition trended recently, and why?

Negative impacts seem to be more muted than expected, and some firms say RTO increased employment.

Many use mortgage spreads as a gauge of market stress, but they actually seem to gauge something else.

Higher borrowing costs for a sovereign can impact its GDP, consumption and investment, among other items.

Hard (or large) sovereign defaults have been associated with larger negative economic responses than soft defaults.

Some believe rises in financial aid such as student loans cause corresponding rises in tuition. But reality seems much more nuanced.

Less-educated White men who are incarcerated at least once have a higher survival probability than those who are never incarcerated.

The recent stock market gyrations of GameStop and AMC Entertainment illustrate that companies' fates can sometimes hinge on self-fulfilling beliefs of stock buyers.

Research finds that first-time incarceration can decrease men's lifetime earnings by up to 50 percent.

The authors forecast the effects of COVID-19 on loan-delinquency rates under three scenarios for unemployment and house-price movements.