Public finance theories postulate that the fiscal decisions of one government influence decisions of other horizontally or vertically related governments. Vertically overlapping governments share the same tax base. The theoretical prediction of vertical spillover is ambiguous and the empirical...

The present article aims at analyzing the dynamics of innovation that emerges and develops in some iconic collaborative spaces that are epicenters of a technological or artistic revolution. The study focuses on three cases (the Homebrew Computer Club, the TransMedTech institute, and the elBulli...

Vor dem Hintergrund stark steigender Boden- und Wohnraumpreise in attraktiven deutschen Großstädten werden seit einigen Jahren intensive Debatten über die Eigentumsverhältnisse an innerstädtischen Grundstücken geführt. Zunehmend mehr Gehör konnten sich zuletzt jene Stimmen verschaffen,...

Credit markets and property rights are fundamental for modern economies, but they also have implications for the commons. Using a dynamic model of competitive resource extraction, we show that improving property right security unambiguously increases conservation incentives, but the effect of...

We study the welfare implications of the rise of common ownership in the United States from 1994 to 2018. We build a general equilibrium model with a hedonic demand system in which firms compete in a network game of oligopoly. Firms are connected through two large networks: the first reflects...