and social outcomes? We study Catholic patron saint day festivals in Mexico, exploiting two features of the setting: (i …

Abstract U.S. firms have reduced their investment in scientific research ("R") compared to product development ("D …"), raising questions about the returns to each type of investment, and about the reasons for this shift. We use Census data that … cost. Companies with greater demand for refinancing during the 2008 financial crisis made larger cuts to R&D investment …

may mute their impact on productive investment. In an experiment in Malawi, we cross-cut cash transfers with an "input … fair," designed to reduce transport costs to access agricultural inputs. Cash alone increases investment by 27%, while the … joint provision of cash and the input fair increases investment by about 40%; thus, the incremental effect of the input fair …

We study how investors' preferences for robustness influence corporate investment, financing, and compensation … ambiguity aversion lowers Tobin's q; the average investment, and investment volatility. The entrepreneur values the project at …

We study how tax policies that lower the cost of capital impact investment and labor demand. Difference …-in-differences estimates using confidential US Census Data on manufacturing establishments show that tax policies increased both investment and … investment is greater in plants with lower labor costs. Our results show that recent tax policies that incentivize capital …

future of work. We study firm investment in automation using cross-country data on robotization as well as administrative … firms has been limited. First, investment in robots is small and highly concentrated in a few industries, accounting for … importance in firms' investment is significantly higher, and their link with labor markets, while sharing some similarities with …

industry from 1991 to 1996. Plant-level decisions on R&D, physical capital investment, entry, and exit are integrated in a … physical investment, and plant scrap value distribution. Knowledge spillovers are essential to explaining the firm …