Commercializing an emerging technology that employs an immature production process can be challenging, particularly when there are many different sources of uncertainty. In industries with stringent safety requirement, regulatory interventions that ensure safety while maintaining incentives for...

The extent to which domestic industrial capabilities are essential in contributing to a Nations’ prosperity and national well being is the topic of long-standing debate. On the one hand, globalization and production outsourcing can lead to greater productivity, lower product costs, and gains...

This paper studies labor market polarization in Portugal, a country with slow capital accumulation and a low share of highly educated workers. We use firm census data for 1986-2007 and uncover polarization in employment and wages in the second half of this period. This mostly appears to be due...