The first aim of this paper is to decompose the productivity advantage of foreign multinationals into two components … two components of productivity growth. We do so by analyzing the effects of an acquisition of a domestic establishment by … a foreign multinational enterprise, using a combined propensity score matching and difference-in-differences estimation …

Do firms have the right incentives to innovate in the presence of productivity spillovers? This paper proposes an …-term wage contracts with their workers, productivity spillovers are fully internalized. If firms cannot commit to long-term wage …

States in terms of unemployment, productivity growth and wage inequality. To show this, we construct two fictitious economies … productivity grows less due to larger mismatch. The model can be used to address a number of normative issues. …

Economic development implies that the efficiency of firms in developing countries is approaching that of firms in … privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier … find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not …

distribution into three main components: efficiency, amenities, and frictions. Higher efficiency and better amenities lead to … MSAs in the United States, we parametrize the model and empirically estimate efficiency, amenities and frictions …

between temporary and persistent disturbances. Another, on unobserved variation in the inflation target of the central bank. A …

Bayesian econometric method that uses conjugate conditionals to make the estimation of DSGE models with correlated disturbances …

frequentist confidence sets will not coincide asymptotically. This means that Bayesian DSGE estimation should not be interpreted …