Commercial real estate accounts for roughly 20% of the U.S. fixed asset stock, and commercial land use is highly regulated. However, little is known about the quantitative impact of these regulations on economic activity or consumer welfare. This paper develops a spatial general equilibrium...

We consider an environment in which there is substantial uncertainty about the potential negative external effects of AI algorithms. We find that subjecting algorithm implementation to regulatory approval or mandating testing is insufficient to implement the social optimum. When testing costs...

We examine the potential role of international agreements on product standards through a stylized model where countries have different regulatory preferences and firms incur fixed costs of regulatory diversity. Overall, our analysis suggests that the common perception of regulatory agreements as...

NBER International Seminar on Macroeconomics 2008 Edited by Jeffrey Frankel and Christopher Pissarides The University of Chicago Press Chicago and London Contents Abstracts xi Introduction 1 Jeffrey Frankel and Christopher Pissarides Part I: Macroeconomic Interdependence 1...

"This paper analyzes job flows in a sample of 16 industrial and emerging economies over the past decade, exploiting a harmonized firm-level dataset. It shows that industry and firm size effects (and especially firm size) account for a large fraction in the overall variability in job flows....