of the system, under various institutional arrangements, through the initial allocation of permits …

We investigate the link between productivity of firms and their sourcing behavior. Following Antràs & Helpman (2004) we … productivity premia associated with the different sourcing strategies. We find strong empirical support for the predictions of the …

This paper studies the impact of trade reforms on the evolution of plant's productivity in Chile (1979-2000). The main … oriented policies. We find evidence of a positive impact of export oriented policies on productivity of traded sectors relative … to non traded. On the other hand, the reduction of import barriers might have a positive impact on productivity in export …

pessimism) pertains to total factor productivity, which determines economic activity in the long run. Optimism shocks are … perceived changes in productivity that do not actually materialize. We develop a new strategy to identify optimism shocks in a … and the real-time prediction of professional forecasters. We find that optimism shocks – in line with theory - generate a …

disadvantage is that it takes more time before an optimal allocation is reached because more productive firms (for a particular …

decision by making an unconditional transfer. An efficient allocation requires the Lindahl property: the sum of the two …