The US retail industry has undergone enormous restructuring resulting in construction of new retail space, abandonment of nearby space, bankruptcies, mergers and acquisitions. This paper estimates discrete choice models of opening and closing probabilities of anchors at a given time and...

This paper reviews academic research on the connections between agglomeration and innovation. The authors first describe the conceptual distinctions between invention and innovation. They then discuss how these factors are frequently measured in the data and note some resulting empirical...

We relax two common assumptions in the Hotelling model with third-degree price discrimination: inelastic demand and exogenously assumed price discrimination. Based on the constant elasticity of substitution (CES) representative consumer model, we allow firms to endogenously choose whether to...

This paper examines the anticompetitive effects of land use regulation using microdata on mid-scale chain hotels in Texas. I construct a dynamic entry-exit model that endogenizes hotel chains' reactions to land use regulation. My estimates indicate that imposing stringent regulation increases...

We consider the effect of expertise on economic transactions, with a particular focus on the real estate market. We show that even as listing information becomes increasingly accessible on real estate aggregation websites, realtor expertise remains important in securing a desirable sale price....

How do banks offer mortgages through on online platform to areas without their branch presence? Unique data on responses from different banks to applicant households yield three salient findings: First, banks offer 4% more often and 6 basis points cheaper credit when markets have high versus low...

This research aims to empirically analyze the spatial distribution of bank-branch networks in Canada. We study the market structure (both industrial and geographic concentrations) within the networks' own or adjacent postal areas. Our empirical framework considers branch density (the ratio of...

This paper attempts to distinguish and estimate the direct and indirect effects of infrastructure on firm productivity. The latter arises from the infrastructure-agglomeration link and has been largely overlooked in the literature on infrastructure. An analytical framework is then developed to...

Many scholars underline the significance of clusters for knowledge spillovers and related benefits in terms of innovation and firm competitiveness. The Industry 4.0 technological scenario emphasizes dispersed technologically interconnected activities and distributed knowledge management...

This chapter reviews academic research on the connections between agglomeration and innovation. We first describe the conceptual distinctions between invention and innovation. We then describe how these factors are frequently measured in the data and some resulting empirical regularities....