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Production and Financial Networks in Interplay

By Kenan Huremović, Gabriel Jiménez, Enrique Moral-Benito, José-Luis Peydró, and Fernando Vega-Redondo

American Economic Review

We show that bank credit shocks to firms propagate along the production network, with stronger upstream than downstream effects. Our identification relies on: (i) administrative datasets from Spain covering supplier-customer transactions and bank loans...

Cool Cities: The Value of Urban Trees

By Lu Han, Stephan Heblich, Christopher Timmins, and Yanos Zylberberg

American Economic Review: Insights

As urban populations grow, more people face extreme heat, increasing demand for natural cooling. Urban trees offer various amenities, including cooling benefits, yet their economic value is hard to quantify. This paper estimates the implicit value of u...