The use of proxy variables to control for unobservables when estimating a production function has become increasingly popular in empirical works in recent years. The present paper aims to contribute to this literature in three important ways. First, we provide a structured review of the...

The use of proxy variables to control for unobservables when estimating a production function has become increasingly popular in empirical works in recent years. The present paper aims to contribute to this literature in three important ways. First, we provide a structured review of the...

We present a Hotelling model of price and advertising competition between prescription drugs that differ in quality/side e¤ects. Advertising results in the endogenous formation of two consumer groups: brand loyal and non-brand loyal ones. We show that advertising strategies are strategic...

type="main" <p>Is there any evidence that innovation and technological progress are constrained by competition and fostered by monopoly power? Our results, based on a constructed dataset of U.S. manufacturing industries observed over more than two decades, suggest that this is not the case. On the...</p>

We present a Hotelling model of price and advertising competition between prescription drugs that differ in quality/side effects. Promotional effort results in the endogenous formation of two consumer groups: brand loyal and non-brand loyal ones. We show that advertising intensities are...

"This paper addresses the following two questions: (i) Is there any evidence that firms, like human beings, prefer to partner with alike? (ii) Is there any relationship between the ex ante technological and product relatedness of merging parties and the postmerger performances? Using data of...

This paper explores the main determinants of productivity growth. The analysis is performed using Spanish firm-level data. We define a framework where the relative magnitudes of alternative, but not exclusive, sources of technical change is simultaneously estimated. Our main finding is that...