We analyze the effect of the rise of knowledge-based activities on spatial inequality within U.S. cities. We exploit the network of patent citations to instrument for local trends in innovation. Innovation intensity is responsible for 14% of the overall increase in urban segregation between 1990...

Using a newly assembled dataset of U.S. patents, we show that overall innovation activity is less concentrated in high-density urban areas than commonly believed, but inventions based on atypical combinations of knowledge are indeed more prevalent in high-density cities. To interpret this...

Cross-country studies have found a negative relationship between income inequality and economic growth. The main problem with the cross-country analyses is the poor quality of the data on income distribution. This paper tests the robustness of the cross-country results to the use of a more...

This paper builds a new dataset with detailed information on the universe of foreign government bonds issued in New York in the 1920s and uses these data to describe the behavior of the financial intermediaries which operated in the New York market during the period leading to the interwar debt...

This paper builds a new dataset with detailed information on the universe of foreign government bonds issued in New York in the 1920s and uses these data to describe the behavior of the financial intermediaries which operated in the New York market during the period leading to the interwar debt...