UiS School of Business and Law – Econ and Finance Seminar. Seminar guest: Fernando Stipanicic, University of Oslo
Fernando Stipanicic, University of Oslo
April 9th 12.15–13.15 EOJ 276/277 or join on Zoom
Abstract:
This paper provides new causal evidence of the impact of air travel time on the creation and diffusion of knowledge. We construct a novel dataset of the U.S. flight network between 1951 and 1966 and exploit the beginning of the Jet Age as a quasi-natural experiment. Travel time between locations over 2,000 km apart decreased by 41%, explaining 30% of the observed increase knowledge diffusion as measured by patent citations. This diffusion spurred new knowledge creation, driving innovation convergence across locations and shifting innovation activity towards the South and West of the United States.