Quantitative Spatial Economics
---- Acknowledgments ----
This paper is prepared for the Annual Review of Economics. We thank the IES and Princeton for research support. We are grateful to co-authors and colleagues for insightful comments and discussion, including Lorenzo Caliendo, Klaus Desmet, Dave Donaldson, Pablo Fajgelbaum, Gene Grossman, Ferdinando Monte, Eduardo Morales, Henry Overman, Daniel Sturm, Tony Venables, and Nikolaus Wolf. Responsibility for any views, errors and omissions lies with the authors alone. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Esteban Rossi-Hansberg ----
Rossi-Hansberg was a long-term consultant at the Richmond Fed while writing parts of this paper. This relationship did not affect the research or conclusions presented in the paper.