Universities, often situated at the center of innovative clusters, are believed to be important drivers of local economic growth. This paper identifies the extent to which U.S. universities stimulate nearby economic activity using the interaction of a national shock to the spread of innovation...

Universities, often situated at the center of innovative clusters, are believed to be important drivers of local economic growth. This paper identifies the extent to which U.S. universities stimulate nearby economic activity using the interaction of a national shock to the spread of innovation...

This paper leverages new measurement of neighborhood consumption amenities to demonstrate that housing prices and rents in U.S. cities are likely determined as much by access to amenities as by access to employment. We extend the Alonso-Muth-Mills model, allowing residents to derive utility from...

Este artículo investiga el mercado para préstamos a nuevas empresas de tecnología (startups), y analiza dos mecanismos que facilitan acceso al crédito en este mercado: la posibilidad de la venta de las patentes comprometidas como activos de garantía en préstamos y la intermediación de...