This paper uses longitudinal data to study the benefits of participation in scholastic athletics starting with high school participation and continuing with college athletics, including the benefits of intramural athletics. We study the impact of participation on a number of...

Many panel data methods, while allowing for general dependence between covariates and time-invariant agent-specific heterogeneity, place strong a priori restrictions on feedback: how past outcomes, covariates, and heterogeneity map into future covariate levels. Ruling out feed-back entirely, as often occurs...

We examine the importance of corporate assets in supporting debt. Prior studies typically see only secured debt as asset backed, while the rest is deemed cash flow based. This implies only a small fraction of US debt is asset backed....

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