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Global Hegemony and Exorbitant Privilege

Pflueger, Carolin E.; Yared, Pierre - National Bureau of Economic Research - 2024

We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...

Persistent link: https://www.econbiz.de/10015056136

Investing with the Government : A Field Experiment in China

Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022

We study the demand for government participation in China's venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both sides of the market: the capital investors and...

Persistent link: https://www.econbiz.de/10013334380

War Does not Foster Cooperation when Neoclassical Mechanisms are Absent! Evidence from a Natural Experiment among Turkish Conscripts

Kıbrıs, Arzu; Cesur, Resul - National Bureau of Economic Research - 2022

conflict exposure (ACE) among Turkish conscripts. Our empirical framework identifies the causal impact and the mediating … increases opposition to peaceful means of conflict resolution and animosity towards minorities and promotes the tendency to …

Persistent link: https://www.econbiz.de/10013462722

Mistrust, Misperception, and Misunderstanding : Imperfect Information and Conflict Dynamics

Acemoglu, Daron; Wolitzky, Alexander - National Bureau of Economic Research - 2023

-degenerate higher-order beliefs) can lead to conflict and drive its dynamics. We develop our analysis in the context of three classic … learning about the opponent's type, as well as the possibility of conflict spirals, traps, and cycles; and a deterrence model …. We relate these models to the empirical literature and to current and historical episodes of conflict …

Persistent link: https://www.econbiz.de/10014372438

Measuring the Tolerance of the State : Theory and Application to Protest

Andirin, Veli; Neggers, Yusuf; Shadmehr, Mehdi; … - National Bureau of Economic Research - 2022

We develop a measure of a regime's tolerance for an action by its citizens. We ground our measure in an economic model and apply it to the setting of political protest. In the model, a regime anticipating a protest can take a costly action to repress it. We define the regime's tolerance as the...

Persistent link: https://www.econbiz.de/10013334386

Have We Got News For You : Firm-Level Evidence on the Optimal Choice of Expected Capacity Utilization

Amberg, Niklas; Friberg, Richard; Syverson, Chad - National Bureau of Economic Research - 2025

Using quarterly micro data on capacity utilization among Swedish manufacturing firms, we show that idiosyncratic factors are much more important than aggregate influences in explaining variation in capacity utilization across firms and over time. Idiosyncratic does not mean unpredictable,...

Persistent link: https://www.econbiz.de/10015195046

Investing in Customer Capital

He, Bianca; Mostrom, Lauren I.; Sufi, Amir - National Bureau of Economic Research - 2024

Firms invest heavily in customer capital, and such investment is a main source of intangible capital value. This study measures investment in customer capital using sales and marketing expense from income statements, information on salaries paid to workers in sales and marketing, and text from...

Persistent link: https://www.econbiz.de/10015145122

Scope, Scale and Concentration : The 21st Century Firm

Hoberg, Gerard; Phillips, Gordon M. - National Bureau of Economic Research - 2022

We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases valuation and is primarily realized through...

Persistent link: https://www.econbiz.de/10013462720

Information Aggregation and Transmission in Strategic Networks

Kung, Fan-chin; Wang, Ping - National Bureau of Economic Research - 2022

Observing the increasingly important roles played by the creation and transmission of information and tacit knowledge, we construct an information-network model incorporating both information transmitters and information aggregators. Given information-processing roles in aggregation or...

Persistent link: https://www.econbiz.de/10013435147

Banks in Space

Oberfield, Ezra; Rossi-Hansberg, Esteban; Trachter, Nicholas - National Bureau of Economic Research - 2024

We study the spatial expansion of banks in response to banking deregulation in the 1980s and 90s. During this period, large banks expanded rapidly, mostly by adding new branches in new locations, while many small banks exited. We document that large banks sorted into the densest markets, but...

Persistent link: https://www.econbiz.de/10014512110