Karen Clay, Joshua A. Lewis, Edson R. Severnini, Xiao Wang

NBER Working Paper No. 27120
Issued in May 2020

---- Acknowledgments ----

We thank Lowell Taylor, Maureen Cropper, Tatyana Deryugina, Raphael Godefroy, and Nick Kuminoff for insightful suggestions, and seminar participants at Carnegie Mellon University, McGill University, and Universite de Montreal and conference participants at the 66th Annual North American Meetings of the Regional Science Association International, the ASSA meetings, and the Southern Economics Association meeting for valuable comments. The authors gratefully acknowledge financial support from the Center for Electricity Industry Studies, Heinz College, and the Berkman fund at Carnegie Mellon University, from the National Science Foundation Grant SES-1627432, and from the Universite de Montreal. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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