persistence is lower with heterogeneity in price stickiness than without it, taking as given the degree of persistence in …

due to heterogeneity in firm-level responses to aggregate shocks. Firms are able to diversify most idiosyncratic …

enhancing the assignment of workers to jobs in the face of firm productivity heterogeneity and skill-biased technological change … emerging from the analysis is that the degree of firm productivity heterogeneity, in terms of skewness and variance, matters …

coagglomeration to document heterogeneity across industries in the microfoundations of agglomeration economies. The pattern of … heterogeneity that we document is consistent with both traditional Marshallian theories and with alternative approaches that …

The WTO’s Doha Development Agenda (DDA) negotiations are blocked. After repeated attempts to make progress, trade …

We provide a novel set of stylized facts on firms engaging in international trade in services, using unique firm …-level data on services exports and imports in the United Kingdom in 2000- 2005. Less than 10% of firms trade in services but they … can be found in all sectors of the UK economy. While the services sector accounts for 80% of total exports and imports …

of development. We document the following regularities. First, as countries develop, their productive structure moves … from more volatile to less volatile sectors. Second, the level of specialization declines with development at early stages …, and slowly increases at later stages of development. Third, the volatility of country-specific macroeconomic shocks falls …

Interactions between economic development and financial development are studied by looking at the roles of financial … institutions in selecting R&D projects (including for both imitation and innovation). Financial development is regarded as the … development stages of an economy. At higher development stages a financing regime with ex post selection capacity is more …