We consider firms' choices between a clean technology that benefits, and a dirty technology that harms, the environment. Green firms are more suited to the clean, and brown firms are more suited to the dirty technology. We use a model derived from complexity theory that takes account of true...

We consider technology choices between green and brown technologies by firms. We use insights from complexity theory and also take account of true uncertainty in designing public policy. The green technology offers relatively higher returns to scale from adoption, and there are type-contingent...

We consider technology choices between green and brown technologies by firms. We use insights from complexity theory and also take account of true uncertainty in designing public policy. The green technology offers relatively higher returns to scale from adoption, and there are type-contingent...

This paper provides the first in-depth study of the organization of knowledge in multinational firms. The paper develops a theoretical model that studies how firms optimally split knowledge between their headquarters and their production plants if communication costs impede the access of...

How do geographic frictions affect firm organization? We show theoretically and empirically that geographic frictions increase the use of middle managers in multi-establishment firms. In our model, we assume that the time of the CEO of a firm is a resource of limited supply that is shared among...

It has been frequently quoted in the literature that one decisive cause of the productive performance of an economy might be infrastructure investment. This paper provides a dual profit theoretical framework of measuring the effects of infrastructure on economic performance in terms of gains in...

This paper analyzes the optimal adjustment strategy of an inventory-holding firm facing price- and quantity-adjustment costs in an inflationary environment. The model nests both the original menu-cost model that allows production to be costlessly adjusted, and the later model that includes...

This article examines the role of the interaction between product market and labor market imperfections in determining total factor productivity growth (TFPG). Embedding Dobbelaere and Mairesse's (2009) generalization of Hall's (1990) approach, allowing for the possibility that wages are...

In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...

How do geographic frictions affect firm organization? We show theoretically and empirically that geographic frictions increase the use of middle managers in multi-establishment firms. In our model, we assume that the time of the CEO of a firm is a resource of limited supply that is shared among...