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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 …
We build a simple formal model of governance. Investments and control rights over assets and labor are fully contractible, but final production decisions are ex ante uncontractible, and ex post …
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 …