We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment...

The economics literature clearly shows that the transmission of knowledge diminishes with physical distance, a factor contributing to industrial clustering. This paper investigates how those distances have stretched over time. We measure the physical distance between collaborating inventors, as...

This paper examines racial disparities in mortgage processing time prior to the global financial crisis. We find that Black borrowers are underrepresented and experience a longer processing time than White borrowers among the mortgages securitized by government-sponsored enterprises. At the same...

We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor-...

This paper provides new evidence on the effect of school construction projects on home prices, academic achievement, and public school enrollment. Taking advantage of the staggered implementation of a comprehensive school construction project in a poor urban district, we find that, by six years...