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Urban transportation projects are massive public investments that can transform cities. This article reviews evidence on how these projects shape where people live, and how their benefits are shared …
Schelling (1956) first clarified how power to reduce one’s freedom of choice might benefit a bargaining party. A commitment to reject proposals, when successful, may force concessions from opponents …
We conduct a welfare analysis of R&D subsidies and tax credits using a model of innovation policy incorporating externalities, limited R&D participation and financial market imperfections. We …
Philippe Aghion, Ufuk Akcigit, Ari Hyytinen, and Otto Toivanen
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …