Abstract Exploiting data on tens of millions housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and (3) price declines coincided with worse labour market outcomes, consistent an income channel. Counterfactual accounting exercises reveal regional differences growth these are importa...

We propose a novel RG method to specify the location of the IR fixed point in lattice gauge theories and apply it to the SU(3) gauge theories with Nf fundamental fermions. It is based on the scaling behavior of the propagator through the RG analysis with a finite IR cut-off, which we cannot remove in the conformal field theories in sharp contrast with the confining theories. The method also ena...