We estimate a variety of exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange rate between the tourism origin and destination countries, the exchange rate vis-a-vis the US dollar is also an important driver of tourism flows and pricing. The...

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism flows, indicating a strong role of U.S. dollar pricing. The...

In this paper we examine the relationship between innovation and firm growth. We implement a classification of innovations based on whether they are explorative or exploitative, taking advantage of a unique Swedish dataset for the period 1997 to 2012. The data allows us to construct each firm's...

I analyze the effect of belief differences among investors in equity markets on corporate investment composition. When some investors have highly optimistic beliefs about risky projects relative to the average beliefs, firms rationally respond by allocating investment to riskier projects to...

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism flows, indicating a strong role of U.S. dollar pricing. The...

We estimate a variety of exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange rate between the tourism origin and destination countries, the exchange rate vis-à-vis the US dollar is also an important driver of tourism flows and pricing. The...