Call for Papers

Competition and the Industrial Organization of Securities Markets
Financial Market Regulation

What Effects Do Options Grants Have
on Risk-Taking by CEOs? It Depends...

Risk-taking by CEOs increases when options increase as a fraction of total pay, according to research summarized in the latest edition of The NBER Digest. In this context, the difference between fixed-number and fixed-value plans may be significant. Also featured in the latest issue of the monthly Digest are studies of the impact of high government debt on corporate borrowing, the long-term benefits of immigration, new evidence on infant mortality rates in the early 20th Century, the effect of providing healthier school lunches, and consumption growth among low- and median-income families.

Download the PDF

When Prescription Drug Monitoring Programs
Reduce Opioid Misuse, and When They Do Not

In reaction to rising rates of opioid addiction and mortality, almost every state in the U.S. has created a Prescription Drug Monitoring Program to help identify patients who may be misusing prescription drugs. Research summarized in the latest edition of the NBER's Bulletin on Aging and Health finds that when prescribers are required to access patient histories before writing prescriptions in certain circumstances, there is a noticeable decline in abuse. When prescribers have access to patient histories, but are not required to access them before prescribing, there is little effect on opioid use or health outcomes.

Download the PDF