This study uses randomized admissions lotteries to examine how different types of charter schools affect students' long-term educational paths, revealing that state test scores do not always predict whether a school helps its students earn a college degree.

Joining an emissions trading scheme can lower a company’s borrowing costs, but only if the carbon market is active enough to give banks a reliable signal of the firm's environmental health.

A sharp increase in federal pandemic relief funds for relatively affluent school districts did not improve student test scores, primarily because districts used the windfall to lower local property taxes rather than increase overall school spending.