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Private sector employment growth, 1998-2004: a panel analysis of British workplaces

Bryson, Alex; Nurmi, Satu - London School of Economics (LSE) - 2008

Using nationally representative panel data for British private sector workplaces this paper points to the importance of distinguishing between workplace and firm size when analysing employment growth, and finds that the factors associated with growth differ markedly between single independent...

Persistent link: https://www.econbiz.de/10010928607

Recovering the sunk costs of R&D: the moulds industry case

Santos, Carlos Daniel - London School of Economics (LSE) - 2009

Sunk costs for R&D are an important determinant of the level of innovation in the economy. In this paper I recover them using a Markov equilibrium framework. The contribution is twofold. First, a model of industry dynamics which accounts for selection into R&D, capital accumulation and...

Persistent link: https://www.econbiz.de/10010745785

Product choice and product switching

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K. - London School of Economics (LSE) - 2003

This paper develops a model of endogenous product selection by firms. The theory is motivated by new evidence we present on the importance of product switching by U.S. manufacturers. Two-thirds of continuing firms change their product mix every five years, and product switches involve more than...

Persistent link: https://www.econbiz.de/10010884551

Entry and asymmetric lobbying: why governments pick losers

Baldwin, Richard E.; Robert-Nicoud, Frédéric - London School of Economics (LSE) - 2007

Governments frequently intervene to support domestic industries, but a surprising amount of this support goes to ailing sectors. We explain this with a lobbying model that allows for entry and sunk costs. Specifically, policy is influenced by pressure groups that incur lobbying expenses to...

Persistent link: https://www.econbiz.de/10010884692

Money for nothing: how firms have financed R&D-projects since the industrial revolution

Bakker, Gerben - London School of Economics (LSE) - 2013

with cash, for which no perfect market existed: the presence of sunk costs, real uncertainty, long time lags, adverse …

Persistent link: https://www.econbiz.de/10011126334

Scale effects in markets with search

Petrongolo, B; Pissarides, Christopher - London School of Economics (LSE) - 2003

Reduced- form tests of scale effects in markets with search, run when aggregate matching functions are estimated, may miss important scale effects at the micro level, because of the reactions of job searchers. A semi-structural model is developed and estimated on a British sample, testing for...

Persistent link: https://www.econbiz.de/10010746289

Scale effects in markets with search

Petrongolo, Barbara; Pissarides, Christopher - London School of Economics (LSE) - 2006

Reduced-form tests of scale effects in markets with search, based on aggregate matching functions, may miss important scale effects at the micro level, because of the reactions of job searchers. We estimate a semi-structural model on a British sample of unemployed people, testing for scale...

Persistent link: https://www.econbiz.de/10010746460

Sequential exporting

Albornoz, Facundo; Calvo-Pardo, Héctor; Corcos, Gregory; … - London School of Economics (LSE) - 2010

Firms need to incur substantial sunk costs to break in foreign markets, yet many give up exporting shortly after their first experience, which typically involves very small sales. Conversely, other new exporters shoot up their foreign sales and expand to new destinations. We investigate a simple...

Persistent link: https://www.econbiz.de/10011071232

Hayek on the wisdom of prices: a reassessment

Bronk, Richard - London School of Economics (LSE) - 2013

This paper re-examines Hayek’s insights into the problem of knowledge in markets, and argues that his analysis remains pertinent but has serious flaws. His central thesis—that the market price system is essential for communicating information and coordinating transactions wherever knowledge...

Persistent link: https://www.econbiz.de/10011071336

Uncertainty and the dynamics of R&D

Bloom, Nick - London School of Economics (LSE) - 2007

Uncertainty varies strongly over time, rising by 50% to 100% in recessions and by up to 200% after major economic and … political shocks. This paper shows that higher uncertainty reduces the responsiveness of R&D to changes in business conditions … - a “caution-effect” - making it more persistent over time. Thus, uncertainty will play a critical role in shaping the …

Persistent link: https://www.econbiz.de/10011071505