This paper estimates and quantifies the impact of structural reforms on per capita income for a large set of OECD and non-OECD countries. The findings suggest that the quality of institutions matters to a large extent for economic outcomes. More competition-friendly regulations, as measured by...

This paper summarises earlier OECD work aimed at quantifying the impact of structural reforms on economic outcomes. It overviews i.) insights obtained for the linear relationships linking policies and economic outcomes (including multi-factor productivity, capital deepening and employment) for...

In contrast to empirical evidence, recent theories of cross-border mergers and acquisitions (M&As) assume perfect knowledge transfers - from high to low productivity firms - between acquirer and target. Using the Melitz (2003) model of heterogeneous firms, we develop a matching model of...