Employer Credit Checks: Poverty Traps versus Matching Efficiency
By Dean Corbae and Andrew Glover
RWP 23-01, January 2023

Banning pre-employment credit screening may help people improve bad credit scores but may reduce firms’ overall productivity.

External LinkThe Missing Tail Risk in Option Prices
By Jason P. Brown, Nida Çakır Melek, Johannes Matschke and Sai A. Sattiraju
RWP 23-02, March 2023

Investors in the oil market consistently underestimate the likelihood of very low oil prices.

Equilibrium Evictions
By Dean Corbae, Andrew Glover and Michael Nattinger
RWP 23-03, April 2023

Restricting landlords’ ability to evict may reduce housing supply, so paying delinquent tenants’ rent is a better policy.

Janus’s Money Demand and Time Inconsistency: A New Impossibility Theorem?
By João Ricardo Faria and Peter McAdam
RWP 23-04, May 2023

A new model of money demand incorporates consumers’ past and future habits to shed light on time inconsistency in monetary policy.

R&D Capital and the Idea Production Function
By Jakub Growiec, Peter McAdam, and Jakub Mućk
RWP 23-05, May 2023

Developing new ideas requires not only researchers but also R&D capital—that is, targeted investment in research equipment.