The non-distribution constraint of non-governmental organizations (NGOs) would be harder, and financiers as well as recipients could expect more charitable output from them, if less efficient NGOs were squeezed out of international development cooperation. We employ Probit and complementary...

We study the economic consequences of anti-loss trafficking rules, which disallow the use of loss carry-forwards as tax shield after a substantial ownership change. Using staggered changes to these rules, we find that limiting the transfer of tax losses reduces the number of M&As with...

Firm turnover has recently attracted increased interest in economic research. The entry of new firms increases competition and promises efficiency gains. Moreover, changes in the market structure influence productivity growth, because firm entry usually leads to increased innovation. The health...

Business cycle models with sticky prices and endegenous firm entry make novel predictions on the transmission of shocks through the extensive margin of investment. This paper tests some of these predictions using a vector autoregression with model-based sign restrictions. We find a positive and...

As GDP is highly correlated with both entering and exiting firms, we develop a totally microfounded DSGE model with endogenous firms entry as well as exit decisions. We show that the simplifying assumption of a constant firms' death rate made by the recent literature on DSGE modelling can lead...

Firm entry and exit play a crucial role in spurring a reallocation of resources across firms as tariffs are reduced. In the light of the substantial trade reforms implemented in the Philippines over the last two decades, the paper examines the impact of trade reforms on the exit of domestic...

Two approaches can be distinguished with respect to modelling entrepreneurship: (i) the approachfocusing on the net development of the number of entrepreneurs in an equilibrium framework and (ii)the approach focusing on the entries and exits of entrepreneurs. In this paper we unify these...

In this paper we provide an analysis of the process of creative destruction across 24 countries and 2-digit industries over the past decade. We rely on a newly assembled dataset that draws from different micro data sources (business registers, census, or representative enterprise surveys). The...