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An Anatomy of International Trade: Evidence from French Firms

Eaton, Jonathan; Kortum, Samuel S; Kramarz, Francis - C.E.P.R. Discussion Papers - 2009

We examine the sales of French manufacturing firms in 113 destinations, including France itself. Several regularities stand out: (1) the number of French firms selling to a market, relative to French market share, increases systematically with market size; (2) sales distributions are very similar...

Persistent link: https://www.econbiz.de/10005124187

The causal effects of an industrial policy

Criscuolo, Chiara; Martin, Ralf; Overman, Henry G; Van … - C.E.P.R. Discussion Papers - 2012

Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro … positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …,300 suggesting that in some respects investment subsidies can be cost effective. …

Persistent link: https://www.econbiz.de/10011084352

The 1920s and the 1990s in Mutual Reflection

Gordon, Robert J - C.E.P.R. Discussion Papers - 2005

fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account … productivity growth linked to the delayed effects of previously invented 'general purpose technologies' stimulated an increase in …-01 collapse of investment and the stock market proves that good public policy matters, going beyond the narrowly defined …

Persistent link: https://www.econbiz.de/10005792478

Education, HIV, and Early Fertility: Experimental Evidence from Kenya

Duflo, Esther; Dupas, Pascaline; Kremer, Michael - C.E.P.R. Discussion Papers - 2015

A seven-year randomized evaluation suggests education subsidies reduce adolescent girls’ dropout, pregnancy, and marriage but not sexually transmitted infection (STI). The government’s HIV curriculum, which stresses abstinence until marriage, does not reduce pregnancy or STI. Both programs...

Persistent link: https://www.econbiz.de/10011145417

Optimal Spatial Taxation: Are Big Cities too Small?

Eeckhout, Jan; Guner, Nezih - C.E.P.R. Discussion Papers - 2015

We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be taxed differently than in small cities? We find that a planner who needs to raise revenue and is constrained by free mobility of labor across cities does not choose equal taxes...

Persistent link: https://www.econbiz.de/10011145397

Labor Differentiation and Agglomeration in General Equilibrium

Berliant, Marcus; Zenou, Yves - C.E.P.R. Discussion Papers - 2012

The aim of this paper is to explore the structure of cities as a function of labor differentiation, gains to trade, a fixed cost for constructing the transportation network, a variable cost of commodity transport, and the commuting costs of consumers. Firms use different types of labor to...

Persistent link: https://www.econbiz.de/10011083732

The Macroeconomics of Modigliani-Miller

Gersbach, Hans; Haller, Hans; Müller, Jürg - C.E.P.R. Discussion Papers - 2013

We examine the validity of a macroeconomic version of the Modigliani-Miller theorem. For this purpose, we develop a general equilibrium model with two production sectors, risk-averse households and financial intermediation by banks. Banks are funded by deposits and (outside) equity and monitor...

Persistent link: https://www.econbiz.de/10011084423

Spatial Sorting: Why New York, Los Angeles and Detroit attract the greatest minds as well as the unskilled

Eeckhout, Jan; Pinheiro, Roberto; Schmidheiny, Kurt - C.E.P.R. Discussion Papers - 2010

We propose a theory of skill mobility across cities. It predicts the well documented city size--wage premium: the wage …

Persistent link: https://www.econbiz.de/10008784748

Asset Prices and Institutional Investors

Basak, Suleyman; Pavlova, Anna - C.E.P.R. Discussion Papers - 2012

Empirical evidence indicates that trades by institutional investors have sizable effects on asset prices, generating phenomena such as index effects, asset-class effects and others. It is difficult to explain such phenomena within standard representative-agent asset pricing models. In this...

Persistent link: https://www.econbiz.de/10011083249

Rotten Parents and Disciplined Children: A Politico-Economic Theory of Public Expenditure and Debt

Song, Zheng Michael; Storesletten, Kjetil; Zilibotti, … - C.E.P.R. Discussion Papers - 2012

This paper proposes a dynamic politico-economic theory of fiscal policy in a world comprising a set of small open …

Persistent link: https://www.econbiz.de/10011083405

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