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Finland offers a subsidy to employers for hiring individuals with low employment prospects. In 2015, changes to the subsidy’s funding caused some regions to unexpectedly suspend new subsidy grants. I …
Lower income commuters are more likely to ride and reside near public transit within cities, but do they also benefit more from faster transit travel? Combining survey data on travel behavior with …
This paper studies the effects of overreaction to recent news for macroeconomic outcomes in the context of a quantitative model of sovereign debt and default. Overreaction is formalized in terms of …