Additive Manufacturing (AM) enables mass customization and has thereby the potential to revolutionize traditional manufacturing. In this paper, we examine how the adoption of AM affects competition and welfare in traditionally standardized product markets. Analyzing a game-theoretical model of...

This paper analyses the impact of financial frictions on markup adjustments at the firm level. We use a rich panel data set that matches information on banking relationships with firm-level data. By relying on insights from recent contributions in the literature, we obtain exogenous credit...

We analyze the influence of monetary policy on firms’ extensive margin and productivity. Our empirical evidence for the U.S. based on a macro-financial SVAR suggests that expansionary monetary policy shocks stimulate corporate profits, reduce firm exit and increase firm entry. In the medium...