activity by the untrustworthy imposes negative externalities on the whole economy and burdensome entry regulations may lower … these externalities at the cost of limiting economic activity by all agents. The model delivers two main predictions: within … drives higher levels of unofficial activity, negative externalities and government regulation, thus inducing a positive …

Many empirical studies have found both inter-industry and intra-industry externalities in the form of local knowledge …

Recent literature has aimed at evaluating human capital externalities by estimating the effect of human capital on …. We show that human capital externalities cannot be identified unless the joint effect of local human capital on both … positive externalities. As for the relative importance of consumption and production externalities, our results suggest that …

Many empirical studies have found both inter-industry and intra-industry externalities in the form of local knowledge …