Can industrial policy be effective when dealing with a revolutionary new technology? Mark Casson's recent book, "The World's First Railway System," offers the intriguing claim that a slight dose of central planning by the British government in the 1840s would have produced a dramatically more...

This paper focuses on the channels through which stadium externalities capitalize into property prices. We investigate two of the largest stadium investment projects of the recent decade – the New Wembley and the Emirates stadium in London, UK. Evidence suggests positive stadium externalities,...

We study how multigrading, which is mixing students of different grades into a single class, affects children’s cognitive achievement in primary school. We build instruments to identify the causal effect of multigrading by exploiting an Italian law that controls class size and grade...

This study estimates the impact of the London 2012 Olympics announcement on property prices. Using a self-constructed dataset of a sample of property transactions, it is estimated that properties in host boroughs are sold between 2.1 and 3.3 per cent higher, depending on the definition of the...