In 1983, Meese and Rogoff showed that traditional economic models developed since the 1970s do not perform better than the random walk in predicting out-of-sample exchange rates when using data obtained after the beginning of the floating rate system. Subsequently, whether traditional economical...

Individualism has long been linked to economic growth. Using the COVID-19 pandemic, we show that such a culture can hamper the economy's response to crises, a period with heightened coordination frictions. Exploiting variation in US counties' frontier experience, we show that more individualist...

Existing research has utilized real options theory to analyze corporate venture capital (CVC) investment, yet little work has empirically studied such investment in a comparative setting. In this paper, we begin to address this gap by investigating firms' investment mode choice between CVC and...