Reversing Reserves

The authors thank Ori Heffetz, Ted O’Donoghue, Germán Reyes, Ran Shorrer, Jason Somerville, and seminar audiences at Cornell University, Pennsylvania State University, and the University of Bonn for helpful conversations. The project described in this paper relies on data from surveys administered by the Understanding America Study (UAS), which is maintained by the Center for Economic and Social Research at the University of Southern California (USC). The content of this paper is solely the responsibility of the authors and does not necessarily represent the official views of USC or UAS.