WebJul 13, 2024 · The reduction in geographic frictions is particularly beneficial for high quality scientists that are otherwise embedded in worse local environments. Consistent with the theory, lower travel costs also endogenously change the types of projects scientists engage in at different levels of distance. After the shock, we observe an increase in ... WebMay 1, 2005 · In a model of geographic heterogeneity in stock wealth, these responses imply an MPC of 3.2 cents per year and that a 20 percent increase in stock valuations, …
Building the city: urban transition and institutional frictions
WebFriction of distance is a core principle of Geography that states that movement incurs some form of cost, in the form of physical effort, energy, time, and/or the expenditure of other … WebAbstract. We develop a simple theoretical framework for thinking about how geographic frictions, and in particular travel costs, shape scientists’ collaboration decisions and the … lime cookies with cream cheese frosting
Publications - Faculty & Research - Harvard Business School
WebSegmented Arbitrage. By: Emil Siriwardane, Adi Sunderam and Jonathan L. Wallen. We use arbitrage activity in equity, fixed income, and foreign exchange markets to characterize the frictions and constraints facing intermediaries. The average pairwise correlation between the 29 arbitrage spreads that we study is 21%. WebThe question then becomes whether the responsiveness of shipments to geographic frictions depends as much on the nature of the shipper as on the good being shipped. If yes, then this informs us about the nature, as well as the size, of the frictions in question. To answer these questions we employ a private use sample of the 1997 US WebWe show theoretically and empirically that geographic frictions increase the use of middle managers in multi-establishment firms. In our model, we assume that a CEO's time is a resource in limited supply, shared across headquarters and establishments. Geographic frictions increase the costs of accessing the CEO. hotels near iim bodhgaya