Academics, the media, and policymakers have all raised concerns about the implications of human workers being replaced … by machines or software. Few have discussed the implications of the reverse: firms' ability to replace capital with … workers. We show that this flexibility can help new firms overcome uncertainty and increase entrepreneurial entry. We develop …

The importance of financial markets and international capital flows have increased greatly since the 1990s. How does …

(QHFT) model, we classify export goods (at the HS 6-digit level of disaggregation) by quality and price competition. We find … a high proportions of quality-competition goods for the major EU countries and lower proportions for Canada, Australia … and China. However, the overlap of these quality-competition goods is not large, which suggests that characteristics of …

Obstfeld and Rogoff (2000) have reinvigorated an old literature on the link between home bias in the goods market and … home bias in the asset market by arguing that trade costs in the goods market can account for the observed portfolio home … the implied home bias are close to zero, casting significant doubt on a meaningful link between home bias in the goods and …

goods as incentives, and estimates respondents' willingness to support the oldest food bank in the U.S …

preferences for local public goods, product markets may provide an analogous incentive to sort into a community whose consumers … tend to share his preferences in private goods. Using zip code level data on chain restaurants and restaurants overall …