Results

CEP discussion paper

Cocaine goes bananas: global spillovers from an illicit supply shock

We study how a sharp expansion in Colombian cocaine production propagated internationally through global trade networks, generating substantial social costs. In Colombia, the production surge increased homicide rates by ...Read more...

CEP discussion paper

Better stealing than dealing: how do felony theft thresholds impact crime?

From 2005 to 2019, forty US states raised the dollar value threshold delineating misdemeanor and felony theft, reducing the expected punishment for a subset of property crimes. Using an event study framework, we observe ...Read more...

CEP discussion paper

The social spillovers of homeownership: evidence from institutional investors

We provide novel evidence on the social spillovers of homeownership by exploiting the recent rise of institutional investors purchasing single-family homes and converting them into permanent rentals. Using a granular dif...Read more...

CEP discussion paper

What fueled the illicit opioid epidemic? New evidence from a takeover of white powder heroin markets

In recent years, the majority of drug overdose deaths in the U.S. have involved illicitly-produced opioids (primarily heroin and fentanyl), overtaking prescription opioids as the main driver of the opioid epidemic. In th...Read more...

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Corporate landlords are eroding the American dream of homeownership, especially in black neighborhoods

There has been a growing trend for institutional investors to purchase single-family homes and convert them to permanent rental properties. At the same time, homeownership rates for black households have declined on par ...Read more...

CEP discussion paper

The erosion of homeownership and minority wealth

Since the Great Recession, the traditional path to wealth creation through home ownership has stalled and worsened for many minority households. One potential and largely unexplored driver of this trend is the growing pr...Read more...