The main objective of this study is to investigate the impact of corporate R&D activities onfirms’ performance, measured by labour productivity. To this end, the stochastic frontiertechnique is applied, basing the analysis on a unique unbalanced longitudinal datasetconsisting of 532 top...

We analyze the role of risk-sharing institutions in transitions to modern economies.Transitions requires individual-level risk-taking in pursuing productivity-enhancing activitiesincluding using and developing new knowledge. Individual-level, idiosyncratic risk implies thatdistinct risk-sharing...

In the literature technical change is mostly assumed to be exogenous and specified as afunction of time. However, some exogenous external factors other than time can also affecttechnical change. In this paper we model technical change via time trend (purely externalnon-economic) as well as other...

We prove that the change in welfare of a representative consumer is summarized by thecurrent and expected future values of the standard Solow productivity residual. Theequivalence holds if the representative household maximizes utility while taking pricesparametrically. This result justifies TFP...

We use plant output and input prices to decompose the profit margin into four parts:productivity, demand shocks, mark-ups and input costs. We find that each of these marketfundamentals are important in explaining plant exit. We then use variation across sectors intariff changes after the...

This paper pursues three aims. First, we provide a review of current theoretical advanceswhich pertain to the relationship between trade, FDI and labor markets. We do so under thefollowing (not mutually exclusive) headings: (1) slicing-up the value added chain and the turnto a task-based...

This paper analyses to what extent working conditions in foreign-owned firms differ fromthose in their domestic counterparts. It makes three main contributions. First, we replicate theconsensus in the empirical literature by applying a standardised methodology to firm-leveldata for three...