This paper examines the effect on productivity of having more near advertising agency neighbors and hence better opportunities for meetings and exchange within Manhattan. We will show that there is extremely rapid spatial decay in the benefits of having more near neighbors even in the close...

This paper provides a model of knowledge sharing and networking among single unit advertising agencies and investigates the implications of this model in the presence of heterogeneity in agencies’ quality. In a stylized screening model, we show that, under a modest set of assumptions, the...

Firms in an R&D race actively manage rivals’ beliefs by disclosing and concealinginformation on their cost of investment. The firms’ disclosure strategies affect theirincentives to invest in R&D, and to acquire information. We compare equilibria undervoluntary disclosure with those under...

A widespread assumption in economic geography and the economics of innovation is that firms located in clusters benefit from territorial learning and knowledge spillovers. However, it remains unclear to what extent these benefits actually occur. This paper aims to address this issue and examines...

This research sheds light on the role of product scope on the innovation activity of multinational multi-product firms. We use patent citation data to break down innovation into two types by measuring the degree to which innovation performed by firms is fundamental and the extent to which the...

Several empirical studies find that worker inflows from more productive or otherwise superior firms increase hiring firms' productivity. We conduct a similar analysis for Germany, using a unique linked employer-employee data set, and ranking sending and hiring establishments by their median...

The aim of this paper is to develop a spatial model that explicitly incorporates the different types of knowledge spillovers taking place in cities and to show how they affect the migration decision of individuals and the size of cities. We use a static general equilibrium framework with two...

This paper investigates firms' optimal location choices explicitly accounting for the role of inwards and outwards knowledge spillovers in a dynamic Cournot oligopoly with firms that are heterogeneous in their ability to carry out cost-reducing R&D. Firms can either locate in an industrial...

Recently, there has been wide interest in the "economics" of population aging. Demographic change has crucial consequences for economic behavior; it e.g. implies that consumption and investment decisions vary over the life-cycle. The latter has important implications for economic growth, whereas...