Recent empirical evidence has shown that firm’s innovation behavior exhibits high persistency but not much is known about potential contingencies affecting the degree of persistence. This paper focuses on the…

We simulate the short- and long-term distributional consequences of COVID-19 in the four largest Latin American economies: Argentina, Brazil, Colombia and Mexico. We show that the short-term impact on income…

Many business-owning families aspire to someday transfer their firm to the next family generation. Controversy surrounds the question of how these transgenerational intentions affect risky growth strategies such…

We study the determinants of emission leakage using a two-country general equilibrium model with heterogeneous firms and Cournot competition. We show that firms from the nonregulating country respond to the…

This article shows that competition exerts a feedback effect on market structure via the process of innovation. First, downstream competition increases the willingness to pay for a more efficient technology (the…

The approach by Engelberg, Manski, and Williams (2009) to convert probabilistic survey responses into continuous probability distributions implicitly assumes that the question intervals are equally wide. Almost…

Based on a new survey of German households, we investigate the role that information channels and lifetime experience play in households’ inflation expectations. We show that the types of information channels…