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R&D and Productivity: Estimating Production Functions when Productivity is Endogenous

Doraszelski, Ulrich; Jaumandreu, Jordi - C.E.P.R. Discussion Papers - 2008

We develop a simple estimator for production functions in the presence of endogenous productivity change that allows us … to retrieve productivity and its relationship with R\&D at the firm level. By endogenizing the productivity process we … as a generalization of the knowledge capital model (Griliches 1979) that has remained a cornerstone of the productivity …

Persistent link: https://www.econbiz.de/10005661740

Productivity volatility and the misallocation of resources in developing economies

Asker, John; Collard-Wexler, Allan; De Loecker, Jan - C.E.P.R. Discussion Papers - 2011

total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5 … time-series volatility of productivity are also characterized by greater cross-sectional dispersion in productivity …. Volatility in TFP explains one quarter to one third of cross-country productivity dispersion. We document a similar relationship …

Persistent link: https://www.econbiz.de/10009150947

Risk-bearing and Entrepreneurship

Newman, Andrew - C.E.P.R. Discussion Papers - 2007

In the 'Knightian' theory of entrepreneurship, entrepreneurs provide insurance to workers by paying fixed wages and bear all the risk of production. This paper endogenizes entrepreneurial risk by allowing for optimal insurance contracts as well as the occupational self-selection. Moral hazard...

Persistent link: https://www.econbiz.de/10005504306

The Demand for Coordination

Dessein, Wouter; Santos, Jesus - C.E.P.R. Discussion Papers - 2003

This paper endogenizes coordination problems in organizations by allowing for both ex ante coordination of activities, using rules and task guidelines, and ex post coordination, using communication and broad job assignments. It shows that: (i) Task specialization and the division of labour is...

Persistent link: https://www.econbiz.de/10005497860

Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data

Boivin, Jean; Giannoni, Marc; Mihov, Ilian - C.E.P.R. Discussion Papers - 2007

This paper disentangles fluctuations in disaggregated prices due to macroeconomic and sectoral conditions using a factor-augmented vector autoregression estimated on a large data set. On the basis of this estimation, we establish eight facts: (1) Macroeconomic shocks explain only about 15% of...

Persistent link: https://www.econbiz.de/10005497865

Power in a Theory of the Firm

Rajan, Raghuram G; Zingales, Luigi - C.E.P.R. Discussion Papers - 1998

Transactions take place in the firm rather than in the market because the firm offers agents who make specific investments power. Past literature emphasizes the allocation of ownership as the primary mechanism by which the firm does this. Within the contractibility assumptions of this...

Persistent link: https://www.econbiz.de/10005498046

On the Road: Access to Transportation Infrastructure and Economic Growth in China

Banerjee, Abhijit; Duflo, Esther; Qian, Nancy - C.E.P.R. Discussion Papers - 2012

This paper estimates the effect of access to transportation networks on regional economic outcomes in China over a twenty-period of rapid income growth. It addresses the problem of the endogenous placement of networks by exploiting the fact that these networks tend to connect historical cities....

Persistent link: https://www.econbiz.de/10011083596

A Price Theory of Vertical and Lateral Integration (Revised Version)

Legros, Patrick; Newman, Andrew - C.E.P.R. Discussion Papers - 2012

techno- logical shocks: productivity changes in some firms may induce ownership changes in others. If the enterprise managers …

Persistent link: https://www.econbiz.de/10011083920

Do Prices Determine Vertical Integration? Evidence from Trade Policy

Alfaro, Laura; Conconi, Paola; Fadinger, Harald; … - C.E.P.R. Discussion Papers - 2012

industrial organization posit that integration, while costly, increases productivity. If true, it follows from firms' maximizing … resulting from enhanced productivity are too small to justify the cost, whereas at higher prices, the revenue benefits exceeds …

Persistent link: https://www.econbiz.de/10011084043

Rational Inattention and Organizational Focus

Dessein, Wouter; Galeotti, Andrea; Santos, Tano - C.E.P.R. Discussion Papers - 2013

We examine the allocation of scarce attention in team production. Each team member is in charge of a specialized task, which must be adapted to a privately observed shock and coordinated with other tasks. Coordination requires that agents pay attention to each other, but attention is in limited...

Persistent link: https://www.econbiz.de/10011084079