Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages … are both national (such as equity market run-ups that preceded the crisis) and, critically, international financial and … number of possible causes in a flexible statistical framework, we are unable to find strong evidence that international …

by international trade linkages than to countries in similar macroeconomic circumstances. …

business cycles are correlated with those of the other countries. But international trade patterns and international business …, inter alia, the intensity or trade with other potential members of the currency union, and the extent to which domestic … close trade links tend to have more tightly correlated business cycles. It follows that countries are more likely to satisfy …

Current orthodoxy suggests that the Industrial Revolution began in Europe because European institutions promoted … comparatively high levels of market efficiency. This Paper compares the actual efficiency of markets in Europe and China, two … include: first, the efficiency of markets in China and Europe was comparable in the late 18th century, except perhaps for …

Productivity is high in cities partly because the urban environment acts as a self-selection mechanism. If workers have … imperfect information about the quality of workers with whom they match and matches take place within cities, then high …-ability workers will choose to live and work in expensive cities. This self-selection improves the quality of matches in such cities …

our approach at the city-level using US Census data on individuals in 173 cities for 1970, 1980, and 1990. Estimation …

We propose a theory of skill mobility across cities. It predicts the well documented city size--wage premium: the wage … distribution in large cities first-order stochastically dominates that in small cities. Yet, because this premium is reflected in … skilled disproportionately sort into the biggest cities, while those with medium skill levels sort into small cities. The …

There is a large consensus among international institutions and national governments to favor urban …-containment policies - the compact city - as a way to improve the ecological performance of the urban system. This approach overlooks a … fundamental fact: what matters for the ecological outcome of cities is the mix between the level of population density and the …

occupations are also a fundamental, but overlooked, driver of innovation. Theory also suggests cities are important for both … creative industries and occupations, with urban environments helping firms innovate. Yet little empirical work has considered … the links between creative industries, occupations, cities and innovation at the firm level. This paper addresses this gap …