We ask whether foreign equity ownership affects the stability of information signals that are absorbed into prices in an emerging economy. We address both the effect of ownership restrictions exogenously imposed on stock ownership and the impact of introducing or widening foreign ownership...

"With more than half of today's global GDP being produced by approximately four hundred metropolitan centers, learning about the economics of cities is vital to understanding economic prosperity. This textbook introduces graduate and upper-division undergraduate students to the field of urban...

Many urban school districts in the United States and OECD countries confront the necessity of closing schools due to declining enrollments. To address this important policy question, we formulate a sequential game where a superintendent is tasked with closing down a certain percentage of student...

Environmental policy analyses increasingly require the evaluation of benefits from large changes in spatially differentiated public goods. Such changes are likely to induce general equilibrium effects through changes in household expenditures and local migration, yet current practice "transfers"...

We develop a new dynamic equilibrium model with heterogeneous households that captures the most important frictions that arise in housing rental markets and explains the political popularity of affordable housing policies. We estimate the model using data collected by the New York Housing...