Two innovations in the last century have changed dramatically the cost of communicating and transmitting information: The first is the widespread adoption of telephony; the second is the internet. We study the implications of these changes in ICT for urban structure. We find robust evidence that...

We analyze the distribution of economic activity across space for different types of activity and different levels of aggregation. Not only is this distribution highly uneven (independently of the type of activity and level of aggregation), it is also remarkably regular regarding its size...

This paper documents the influence of diaspora networks of high-skilled individuals - i.e., inventors - on international technological collaborations. By means of gravity models, it studies the determinants of the internationalization of inventive activity between a group of industrialized...

Two innovations in the last century have changed dramatically the cost of communicating and transmitting information: The first is the widespread adoption of telephony; the second is the internet. We study the implications of these changes in ICT for urban structure. We find robust evidence that...

Evidence indicates that house prices have become somewhat more synchronized during this century, likely reflecting more correlated movements in long-term interest rates and macroeconomic cycles that are related to trends in globalization and international portfolio diversification. Nevertheless,...

Tokyo and Seoul, the two leading East Asian global cities, operate under "developmental states." They often struggle for control over major urban initiatives against their strong state government agencies as they seek prominence in the global city hierarchy. Through comparative review of...

American agricultural law's environmental record is a legacy of legislative failure. Most of the blame can and should be attributed to the failure of the law to separate ecological objectives from competing and ultimately contradictory economic objectives. Two strains of agroecological fallacies...

In this paper, we use a panel approach to study population growth in primate cities around the world. We find that primate cities grow faster in relatively backward economies, and in more volatile and faster growing economies. We also find that the effects of trade policy on the growth of...

The crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of...

Firms have not historically called their convertible bonds as soon as they could force conversion. Various explanations for the delay rely on the size of the dividends that bondholders forgo so long as they do not convert. We investigate an important change in convertible security design, namely...