This paper studies the long-term effects of redlining policies that restricted access to credit in urban communities. For empirical identification, we use a regression discontinuity design that exploits boundaries from maps created by the Home Owners Loan Corporation (HOLC) in 1940. We find that...

We show that the acquisition of a startup inventor's first patent has a negative effect on the subsequent productivity of the patent's inventor, leading to 6.7 fewer patents being granted to the inventor over five years. This effect is not due to the inventor focusing on high-quality...