This paper exploits daily infrared images taken from satellites to track economic activity in advanced and emerging countries. We first develop a framework to read, clean, and exploit satellite images. Our algorithm uses the laws of physics (Planck's law) and machine learning to detect the heat...

While official statistics provide lagged and aggregate information on the housing market, extensive information is available publicly on real-estate websites. By web scraping them for the UK on a daily basis, this paper extracts a large database from which we build timelier and highly granular...

The Covid-19 crisis has highlighted innovative high-frequency dataset allowing to measure in real-time the economic impact. In this vein, we explore how satellite data measuring the concentration of nitrogen dioxide (NO2, a pollutant emitted mainly by industrial activity) in the troposphere can...

Since Gabaix (2011), the role of changes in the performance of some very large firms in shaping aggregate outcomes has been intensively studied in the economic literature. Changes in the performance of a few large firms can arise due to idiosyncratic shocks or idiosyncratic reactions to common...

Since Gabaix (2011), the role of changes in the performance of some very large firms in shaping aggregate outcomes has been intensively studied in the economic literature. Changes in the performance of a few large firms can arise due to idiosyncratic shocks or idiosyncratic reactions to common...

Standard horizontal FDI models predict substitutability between FDI and exports in light of the proximity-concentration trade-off, nonetheless, empirical literature finds, almost invariably, a complementarity effect. We argue that given the multi-product nature of the vast majority of firms, FDI...