In this dissertation, I study the effect of environmental regulation on firm behavior. In the first chapter, I use a dynamic model to quantify the effects on exit, entry, investment and welfare of different allocation schemes of a cap-and-trade program. I focus on allocation rules regarding...

This paper presents the findings of the most comprehensive program of study to date aimed at quantifying the number, size distribution and evaporation of droplets produced during virtually any expiratory activity. This international research program included teams of investigators from a number...

This paper investigates the size distribution of the whole population of Spanish commercial, savings and cooperative banks from a dynamic perspective over the 1970 2006 period. To investigate the evolution of the size distribution, we determine whether the data satisfies the Law of Proportionate...

Las pequeñas empresas son menos productivas que las grandes empresas. Asimismo, las empresas españolas son más pequeñas y menos productivas que sus homólogas europeas. Sin embargo, ¿son menos productivas porque son más pequeñas o son más pequeñas porque son menos productivas? Este...

Este artículo presenta un modelo de equilibrio general dinámico y estocástico, de tamaño medio, para simulaciones de política fiscal. Respecto de otros modelos de este tipo, nuestro modelo incorpora dos características importantes. Por un lado, consideramos una estructura de unión...

In this paper, I investigate the logic behind cross sectional dispersion of firm's capital structure. I incorporate the trade off between tax benefits and financial distress costs into a dynamic general equilibrium model with heterogeneous firms and their endogenous entry/exit, and compute an...

Following Chamley, Lucas, Laitner, and Aiyagari, this dissertation continues toexplore the answer for the question of zero capital taxation by discussing how taxeson capital income, labor income, and property affect the economy in the contextof a vintage capital model where the embodied...

In this dissertation, we analyze some patterns of aggregate job reallocation that are significantly determined by the coexistence of heterogeneous businesses in any industry. First, we argue that the interaction of non-strictly convex adjustment costs and learning about true efficiency can...

This thesis is comprised of three chapters. The first chapter (joint with John Haltiwanger, Julia Lane, and Kevin McKinney) explores a new way of capturing dynamics: following clusters of workers as they move across administrative entities. Information on firm dynamics is critical to...

The Hopenhayn and Rogerson (1993) framework is extended to understand how different forms of taxing capital income affect fi rms’ investment and fi nancial policies over their life cycle. Corporate income taxation slows down fi rm growth over the life cycle by reducing after-tax profi ts...