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What factors underlie industry differences in research intensity and productivity growth? We develop a multi … consumer preferences. We find that long run industry differences in both productivity growth and R&D intensity mainly reflect … research cannot account for industry differences in productivity growth rates, and that variation in intertemporal knowledge …
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This paper analyzes the influence of the structure of collective wage bargaining on direct investment abroad. A wage negotiations model shows that high productive firms benefit from centralized bargaining and invest therefore less abroad than under dezentralized bargaining. An empirical study...
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This paper studies the life-cycle dynamics of exporters and multinational enterprises (MNEs). We present a dynamic model of trade and MNE activity in which the mode of serving a market depends on the well-known proximity-concentration tradeoff. We show that the option of performing MNE...
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