In this paper, we analyze the incentives of an incumbent and an entrant to migrate from an "old" technology to a "new" technology, and discuss how the terms of wholesale access affect this migration. We show that a higher access charge on the legacy network pushes the entrant firm to invest...

The theory of factor demand has important implications for the study of the impact of immigration on wages. This paper derives the theoretical implications in the context of a general equilibrium model where the wage impact depends on the elasticity of product demand, the rate at which the...

This paper examines whether social interactions and cultural practices affect political views and behavior in society. We investigate the issue by documenting a major social and cultural event at different stages in life: the Fourth of July celebrations in the United States during the 20th...

The Low Income Housing Tax Credit (LIHTC) represents a novel tax expenditure program that employs “investable†tax credits to spur production of low-income rental housing. While it has grown into the largest source of new affordable housing in the U.S. and its structure is now being...

Previous research on the determinants of effectiveness in knowledge systems seeking to support sustainable development has highlighted the importance of “boundary work†through which research communities organize their relations with new science, other sources of knowledge, and the...

This paper investigates whether leading indicators can help explain the cross-country incidence of the 2008-09 financial crisis. Rather than looking for indicators with specific relevance to the current crisis, the selection of variables is driven by an extensive review of more than eighty...

The crisis of the 9/11 terrorist attacks has sparked a surge of increased civic engagement by young people in the United States, but there is also evidence of a growing divide along class lines.

Member-based civic associations, or citizen groups, have two crucial roles in American democracy. They advocate for members' interests in the public arena, but also operate as Tocquevillian “schools of democracy†linking citizens to politics and equipping them with the skills of...

Ecosystem stewardship is an action-oriented framework intended to foster social-ecological sustainability of a rapidly changing planet. Recent developments identify three strategies that make optimal use of current understanding in an environment of inevitable uncertainty and abrupt change:...