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While official measures of business dynamism have seen a long-term decline, early-stage venture financing of new companies has reached levels not observed since the late 1990s, resulting in a sharp debate about the state of American entrepreneurship. Building on Guzman and Stern (2015a; 2015b), this...
Persistent link: https://www.econbiz.de/10012456579
Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this "make-or-buy" choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a dataset...
Persistent link: https://www.econbiz.de/10012465302
American local governments own and manage a wide portfolio of enterprises, including gas and electricity companies, water systems, subways, bus systems and schools. Existing theories of public ownership, including the presence of natural monopolies, can explain much of the observed municipal...
Persistent link: https://www.econbiz.de/10012470103
We explore the consequences of treating the multiple, non-market benefits associated with improvements in ecosystem … to pay measures of use-based ecosystem services are impacted by the changes in demand for complementary market goods …. Demand for these goods shifts due to the introduction of pollution regulations that deliver improvements in ecosystem …
Persistent link: https://www.econbiz.de/10012462808
This paper investigates the nonlinear dynamic response to shocks, relying on a threshold quantile autoregression (TQAR) model as a flexible representation of stochastic dynamics. The TQAR model can identify zones of stability/instability and characterize resilience and traps. Resilience means...
Persistent link: https://www.econbiz.de/10012456056
This paper evaluates a Payments for Ecosystem Services (PES) program in western Uganda that offered forest …
Persistent link: https://www.econbiz.de/10012456299
Payments for Ecosystem Services (PES) are a widely used approach for forest conservation through which people are paid …
Persistent link: https://www.econbiz.de/10014635652
This paper studies the economic consequences of the West's foray into China after the Opium War (1839-42), when Western … nature of China's capital markets. Whereas before the Opium War, coastal cities were of relatively minor importance, the … treaty port system of the West transformed China into an economy focused on coastal areas and on international trade that …
Persistent link: https://www.econbiz.de/10012660082
Many studies of regional disparity in China have focused on the preferential policies received by the coastal provinces …
Persistent link: https://www.econbiz.de/10012469817
-Fraumeni human capital measurement framework and modify it to estimate provincial level human capital in China. We produce a …
Persistent link: https://www.econbiz.de/10012455774