informational role of cities is a primary reason for" their continued existence. This paper formalizes Marshall's theory in a model … of other implications of the theory are corroborated" empirically …

) from upper-tail knowledge. As a proxy for the historical presence of knowledge elites, we use city-level subscriptions to … firm survey from the 1840s, we shed light on the mechanism: upper-tail knowledge raised productivity in innovative …

The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the …

documentation of their behavior in terms of production and intra-firm trade. In this paper, we extend recent theory referred to as … the knowledge-capital model', which simultaneously generates motives for both horizontal and vertical multinational …

neoclassical model of investment with physical capital, quasi-fixed labor, and two types of intangible capital, knowledge and brand …'s market value, installed labor force accounts for 14% to 22%, knowledge capital accounts for 20% to 43%, and brand capital … of knowledge capital increased, especially in high-tech industries. Overall, our analysis provides direct empirical …

have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment …