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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
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...
Persistent link: https://www.econbiz.de/10012456639
Persistent link: https://www.econbiz.de/10003592346
A growing theoretical and empirical literature shows that public recognition can lead employees to exert greater effort. However, status competition is also associated with excessive expenditure on status goods, greater likelihood of bankruptcy, and more risk taking by money managers. This paper...
Persistent link: https://www.econbiz.de/10012455688
Timely and accurate measurement of AI use by firms is both challenging and crucial for understanding the impacts of AI on the U.S. economy. We provide new, real-time estimates of current and expected future use of AI for business purposes based on the Business Trends and Outlook Survey for...
Persistent link: https://www.econbiz.de/10014528359
Persistent link: https://www.econbiz.de/10003525731
from innovation. In this paper, we revisit that question using a nationally representative sample of firms over the period … of the economics of innovation. There are five main findings. First, while patenting firms are relatively uncommon in the … differences in the type of R&D or innovation produced by a firm. We also discuss the implications of these findings for innovation …
Persistent link: https://www.econbiz.de/10014322815
Over the last twenty years the wage-education relationships in the US and Germany have evolved very differently, while … files from the PSID (US) and the GSOEP (Germany), we demonstrate how factor movements within these countries are associated … capital over the 1979-96 period, while Germany accumulated factors in a more balanced manner …
Persistent link: https://www.econbiz.de/10012471064
. In addition to standard Wald tests, we formulate Lagrange Multiplier and Distance Metric tests which require estimation … under the non-linear constraints of the null hypotheses. Estimation under the null is achieved by iterating on approximate …
Persistent link: https://www.econbiz.de/10012471161
In 1997 GDP per capita in East Germany was 57% of that of West Germany, wage rates were 75% of western levels, and the … bring convergence, labor flows would respond, enhancing overall efficiency. Yet net emigration from East Germany has fallen … from high levels in 1989-1990 to close to zero. Using state-level data for all of Germany, available from 1991-1996, I am …
Persistent link: https://www.econbiz.de/10012471211