This paper revisits the "footloose" nature of multinational firms (MNFs) hypothesis. Using firm-level data for Belgium over the period 1997-2008, we rely on a Probit model and take into account the endogeneity of the determinants of firm exit. Our results may be summarised as follows. First, the...

This paper examines whether multinational companies differ in their employment adjustment from domestic firms, on the basis of a panel of Belgian firms for the period 1997-2007. We focus on incumbent firms as, in general, they account for the largest fraction of net employment creation,...

This paper presents a simple model of state-dependent pricing that allows identifying the relative importance of both nominal and real factors in price rigidity. Using two rich datasets consisting of a large fraction of the price quotes used to compute the Belgian and French Consumer Price...