<?xml version='1.0' encoding='UTF-8'?><xml><records><record><source-app name="HighWire" version="7.x">Drupal-HighWire</source-app><ref-type name="Journal Article">17</ref-type><contributors><authors><author><style face="normal" font="default" size="100%">Hollingsworth, Alex</style></author><author><style face="normal" font="default" size="100%">Huang, Jiafang Mike</style></author><author><style face="normal" font="default" size="100%">Rudik, Ivan</style></author><author><style face="normal" font="default" size="100%">Sanders, Nicholas J.</style></author></authors><secondary-authors></secondary-authors></contributors><titles><title><style face="normal" font="default" size="100%">A Thousand Cuts</style></title><secondary-title><style face="normal" font="default" size="100%">Journal of Human Resources</style></secondary-title></titles><dates><year><style  face="normal" font="default" size="100%">2025</style></year><pub-dates><date><style  face="normal" font="default" size="100%">2025-05-01 00:00:00</style></date></pub-dates></dates><pages><style  face="normal" font="default" size="100%">950-976</style></pages><doi><style  face="normal" font="default" size="100%">10.3368/jhr.0222-12169R2</style></doi><volume><style face="normal" font="default" size="100%">60</style></volume><issue><style face="normal" font="default" size="100%">3</style></issue><abstract><style  face="normal" font="default" size="100%">We study how lead exposure impacts learning in elementary school using a natural experiment where a national automotive racing organization switched from leaded to unleaded fuel. Increased lead exposure harms academic performance, shifting the entire performance distribution, and negatively impacting both younger and older children. For a given total quantity of exposure, the marginal impacts of lead appear greater when spread over more years. The average treated student loses $5,200 of future income in present-value terms. This effect is similar to reducing class size by three students or increasing school spending per pupil by $750.</style></abstract></record></records></xml>