Why stars matter?: Stars have direct impact on local economies. They can also indirectly affect growth in a po... http://t.co/L8nPjNA6l9— VoxEU.org (@voxeu) May 18, 2014
Ajay K. Agrawal, John McHale, Alexander Oettl, 18 May 2014
Stars have direct impact on local economies. They can also indirectly affect growth in a positive way. This column examines the effect of academic star arrivals on the departmental knowledge productivity. Department-level output increases by 54% after the arrival of the star. The post-arrival quality of the joiners is also positively affected, displaying an increase of 68%. These star effects are largest at mid-ranked institutions.