Monetary policy is known to have heterogeneous regional economic effects. Building on the notion that production factors and investment opportunities are locally concentrated, we show that firms partly navigate the uncertainty associated with monetary contraction by altering the scope of their...

From regional redistribution through mortgage markets to the monetary policy effects on local house price dynamics, the Great Financial Crisis (GFC) has been a powerful reminder that money and credit matter for the evolution of the space economy. In addition to the spatially uneven impact of...