This paper empirically examines the extent to which and how local economic growth and asset location affect firm growth based on a sample of US equity real estate investment trusts (REITs) from 2001 to 2016. Using the GDP growth rate by MSA and individual property data of REITs, we construct an...

The impact of technology investment on bank production and employment is examined. Using a new bank-level technology spending dataset from 2000-2017, we estimate the parameters of a firm-level production function correcting for endogenous input choices. We document that technology input on...