Daniel A. Rettl, Alexander Schandlbauer, and Mircea Trandafir ♦ Using administrative data on the universe of firms in Denmark, we find that even temporary and small health shocks to employee health like seasonal influenza can significantly reduce firm profitability. The…
Tao Li, Pedro A. C. Saffi, and Daheng Yang ♦ We study interactions between activist hedge funds and large short sellers using European data on activist campaigns and mandatory disclosures of large short positions. Large short sellers are associated with…
Claudia Custodio, Miguel A Ferreira, Emilia Garcia-Appendini, and Adrian Lam ♦ We estimate the supply-side effects of climate change on firm sales by exploiting variation in local average temperature across suppliers of the same client. A 1°C increase in temperature…
Stefano Colonnello, Roberto Marfè, and Qizhou Xiong ♦ We build a granular dataset of residential property yields using rental and sale listings from a major German real estate platform. With more than 1.5 million property-level rent-to-price ratios, we document a…
Leonard Kostovetsky, Lin Peng, Christopher Rauh, and Muhammed Yonac ♦ We develop a novel, high-frequency measure of local climate change attention based on a comprehensive dataset covering over 5,000 U.S. newspapers across all major population centers. Heightened attention significantly increases…
Cloé Garnache ♦ Using regression discontinuity and difference-in-differences designs to compare prices of California homes across a new wildfire risk zone boundary, I identify null effects in the immediate vicinity of the new risk zone boundary. In contrast, prices of…
