Crowdfunding allows founders of for-profit, artistic, and cultural ventures to fund their efforts by drawing on relatively small contributions from a relatively large number of individuals using the internet, without standard financial intermediaries. Drawing on a dataset of over 48,500 projects with combined funding over $237M, this paper offers a description of the underlying dynamics of success and failure among crowdfunded ventures. It suggests that personal networks and underlying project quality are associated with the success of crowdfunding efforts, and that geography is related to both the type of projects proposed and successful fundraising. Finally, I find that the vast majority of founders seem to fulfill their obligations to funders, but that over 75% deliver products later than expected, with the degree of delay predicted by the level and amount of funding a project receives. These results offer insight into the emerging phenomenon of crowdfunding, and also shed light more generally on the ways that the actions of founders may affect their ability to receive entrepreneurial financing.

/pdf/the-dynamics-of-crowdfunding-determinants-of-success-and-lden0y9zhs.pdf

The Dynamics of Crowdfunding: Determinants of Success and Failure

The dynamics of crowdfunding: An exploratory study

https://www.nber.org/system/files/working_papers/w26948/w26948.pdf

How many jobs can be done at home

The goal of this piece is to survey the developing and rapidly growing literature on the economic consequences of COVID-19 and the governmental responses, and to synthetize the insights emerging from a very large number of studies. This survey: (i) provides an overview of the data sets and the techniques employed to measure social distancing and COVID-19 cases and deaths; (ii) reviews the literature on the determinants of compliance with and the effectiveness of social distancing; (iii) mentions the macroeconomic and financial impacts including the modelling of plausible mechanisms; (iv) summarizes the literature on the socioeconomic consequences of COVID-19, focusing on those aspects related to labor, health, gender, discrimination, and the environment; and (v) summarizes the literature on public policy responses.

https://www.econstor.eu/bitstream/10419/222316/1/GLO-DP-0601.pdf

A literature review of the economics of COVID-19

COVID-19 drove a mass social experiment in working from home (WFH). We survey more than 30,000 Americans over multiple waves to investigate whether WFH will stick, and why. Our data say that 20 percent of full workdays will be supplied from home after the pandemic ends, compared with just 5 percent before. We develop evidence on five reasons for this large shift: better-than-expected WFH experiences, new investments in physical and human capital that enable WFH, greatly diminished stigma associated with WFH, lingering concerns about crowds and contagion risks, and a pandemic-driven surge in technological innovations that support WFH. We also use our survey data to project three consequences: First, employees will enjoy large benefits from greater remote work, especially those with higher earnings. Second, the shift to WFH will directly reduce spending in major city centers by at least 5-10 percent relative to the pre-pandemic situation. Third, our data on employer plans and the relative productivity of WFH imply a 5 percent productivity boost in the post-pandemic economy due to re-optimized working arrangements. Only one-fifth of this productivity gain will show up in conventional productivity measures, because they do not capture the time savings from less commuting.

/pdf/why-working-from-home-will-stick-2zcwimdq8o.pdf

Why Working from Home Will Stick

We report the results of a nationally-representative sample of the US population during the COVID-19 pandemic. The survey ran in two waves from April 1-5, 2020 and May 2-8, 2020. Of those employed pre-COVID-19, we find that about half are now working from home, including 35.2% who report they were commuting and recently switched to working from home. In addition, 10.1% report being laid-off or furloughed since the start of COVID-19. There is a strong negative relationship between the fraction in a state still commuting to work and the fraction working from home. We find that the share of people switching to remote work can be predicted by the incidence of COVID-19 and that younger people were more likely to switch to remote work. Furthermore, states with a higher share of employment in information work including management, professional and related occupations were more likely to shift toward working from home and had fewer people laid off or furloughed. We find no substantial change in results between the two waves, suggesting that most changes to remote work manifested by early April.

/pdf/covid-19-and-remote-work-an-early-look-at-us-data-47dqm9doq2.pdf

COVID-19 and Remote Work: An Early Look at US Data

The impact of COVID-19 on the way that we work arguably represents the most drastic and rapid shift to the global workforce that we have seen since World War II. This paper investigates the long term impacts of this remote work experiment and what we can anticipate in the future, based on the direct impact that COVID has had on hiring, sentiments around remote work, and plans moving forward. The analysis uses two waves of survey data: one fielded prior to the pandemic in November 2019, and the other fielded during the pandemic in April 2020. The surveys polled a combined 1,500 hiring managers which includes executives, VPs, and managers- so the results reflect the views and plans of those with direct influence over businesses’ remote work decisions. In short, these results provide before and after snapshots of how relevant decision makers view the remote work experiment so far and how it has affected their plans. The results suggest that the remote work experiment has gone better than expected for hiring managers. The perceived benefits of working remotely are causing businesses to significantly increase plans for remote hiring in the future, which will cause an acceleration in the already upward trend of greater remote work.

The Future of Remote Work

This article describes geocode and traveltime, two commands that use Google Maps to provide spatial information for data. The geocode command allows users to generate latitude and longitude for var...

https://journals.sagepub.com/doi/pdf/10.1177/1536867X1101100107

Stata utilities for geocoding and generating travel time and travel distance information

Remote work has increased the demand for housing and changed the demand for the location of that housing. Because housing supply is heterogeneous across space and more elastic in the long-run, the effects on rents and populations may differ over time. We use the lens of a spatial housing model with heterogeneous housing supply elasticities to identify the housing and location demand changes from 2020–2022, and show that the same shocks will have different effects in the long run. Even though rents and prices increased significantly in the short-run, we estimate that in the long-run, increased housing demand will increase rents by only 1.8 percentage points, and that changing location demand will decrease rents by 0.3 percentage points, with a more negative impact on cities in which CPI is measured and cities that were initially expensive. 

The short- and long-run effects of remote work on U.S. housing markets

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COVID-19 and Remote Work: An Early Look at US Data

The Future of Remote Work

Stata utilities for geocoding and generating travel time and travel distance information

COVID-19 and Remote Work: An Early Look at US Data

The short- and long-run effects of remote work on U.S. housing markets