We construct a new micro-geographic commercial rent index for Germany to study the capitalization of agglomeration economies into floor space prices. In large local labor markets, commercial rents decline by -17% per kilometer from the central business district, compared to 13% for residential...

Using a quantitative spatial model as a data-generating process, we explore how spatial frictions affect the measurement of quality of life. We find that under a canonical parameterization, mobility frictions - generated by idiosyncratic tastes and local ties - dominate trade frictions -...

We employ a quantitative spatial model that accounts for trade fritions - generated by trade costs and non-tradable services - and mobility frictions - generated by idiosyncratic tastes and local ties - to recover unobserved quality of life (QoL) and estimate the urban QoL premium. For Germany,...

While there is increasing evidence on the effects of trade liberalization on local labor markets, regional variation in cost and quality of living remains essential to understanding the broader welfare impacts of trade policy. This paper examines how trade liberalization influenced wage...

This paper considers a random search model where some locations provide sellers with better chances of meeting many buyers than other locations (for example popular shopping streets or the first page of a search engine). When sellers are heterogeneous in terms of the quality of their product...

This paper considers a random search model where some locations provide sellers with better chances of meeting many buyers than other locations (for example popular shopping streets or the first page of a search engine). When sellers are heterogeneous in terms of the quality of their product...