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Does smoking make you dumb?

Perhaps the answer is ‘yes’. A paper by Gao et al. (2020) attempts to answer that question. We identify a positive causal effect of healthy working environments on corporate innovation, using the staggered passage of U.S. state-level laws that ban smoking in workplaces. We find a significant increase in patents and patent citations for firms…

COVID-19 in context

COVID-19 has caught the headlines, and for good reason. According to the WHO, there have been 109,577 confirmed cases (3993 new on 9 Mar 2020) and 3809 deaths (225 new as of 9 Mar 2020) The stock market has plunged. Sporting events have been halted all over Italy. And the rise of cases has been…