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Time to Repay or Time to Delay? The Effect of Having More Time before a Payday Loan Is Due

By Susan Payne Carter, Kuan Liu, Paige Marta Skiba, and Justin Sydnor

American Economic Journal: Applied Economics, October 2022

We examine the effect of state laws on minimum payday loan durations that give some borrowers an additional pay cycle to repay their initial loan with no other changes to contract terms. Neoclassical models predict this "grace period" would reduce borrowe...

Correction to "Temperature and Decisions: Evidence from 207,000 Court Cases" and Reply to Spamann

By Anthony Heyes and Soodeh Saberian

American Economic Journal: Applied Economics, October 2022

This paper evidenced the sensitivity of US immigration judge decisions to temperature in the city of arbitration on the date of a case's completion. This note serves to correct errors noted since publication. The results from both the main linear specific...

Money and Politics: The Effects of Campaign Spending Limits on Political Entry and Competition

By Eric Avis, Claudio Ferraz, Frederico Finan, and Carlos Varjão

American Economic Journal: Applied Economics, October 2022

This paper studies the effects of campaign spending limits on the political entry, selection, and behavior of local politicians in Brazil. We analyze a reform that limits campaign spending for mayoral elections. The limits were implemented with a disconti...

Capital Destruction and Economic Growth: The Effects of Sherman's March, 1850–1920

By James Feigenbaum, James Lee, and Filippo Mezzanotti

American Economic Journal: Applied Economics, October 2022

Using General Sherman's March through Georgia, South Carolina, and North Carolina during the Civil War, we study the effect of capital destruction on medium- and long-run local economic activity, and the role of financial markets in recovery. We show that...

The Health Effects of Prison

By Randi Hjalmarsson and Matthew J. Lindquist

American Economic Journal: Applied Economics, October 2022

This paper studies the health effects of Swedish prison reforms that held sentences constant but increased the share of time inmates had to serve. The increased time served did not harm post-release health and actually reduced mortality risk. We find espe...