How do regional productivity shocks or transportation infrastructure affect aggregate
welfare? In a general class of spatial equilibrium models, we provide an exact additive …

Misallocation of inputs across firms has been proposed as a reason for low levels of
development in some countries. However, existing work has largely relied on strong …

This paper shows that there exists an unambiguous notion of the direct effect of a parameter
perturbation on the value of an optimization problem's objective away from an optimum for …