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The offshoring of production by multinational firms has expanded dramatically in recent decades, increasing the … increase the probability of offshoring, while those that introduce regulatory constraints in the labor market discourage it. We … also show that offshoring activities are more likely for firms that have developed networks in the country of destination. …

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Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The existing method may yield positive or negative externalities even if wages reflect marginal social products. We propose an approach that yields positive average human capital...

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This paper provides a quantitative perspective on Gene Fama's influence on the scholarly community. He has more than 140,000 Google cites while the median number of citations for the Fellows of the American Finance Association is 32,792. Gene Fama has published highly-cited papers in six...

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Indentifying human capital externalities: theory with an application to US cities

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