The SARS-CoV-2 coronavirus that causes the COVID-19 disease led to the most significant change in the world order over the past century, destabilizing the global economy and financial stock markets, the world's economy, social development, business, risk, financial management and financial...

We explore conditions under which collaboration between pharmaceutical firms from 'advanced' and emerging countries becomes preferable to rivalry. We show that that when agreements, such as Trade Related Aspects of Intellectual Property (IP) Rights, allow advanced country firms to take legal...

How should multilateral trade policy be designed in a world in which countries differ in terms of market access and technology, and firms with market power differ in terms of productivity? We answer this question in a model of monopolistic competition in which variable markups increasing in firm...

Electric vehicle (EV) battery costs have declined by more than 90% over the past decade. This study investigates the role of learning-by-doing (LBD) in driving this reduction and its interaction with two major government policies - consumer EV subsidies and local content requirements. Leveraging...

We document and dissect a new stylized fact about firm growth: the shift from labor to intermediate inputs. This shift occurs in input quantities, cost and output shares, and output elasticities. We establish this fact using German firm-level data and replicate it in administrative firm data...

This paper outlines the modern industrial organization theory of media markets including competition policy implications. After recapturing fundamentals of industrial organization theory in a non-technical way, the state of the art of (i) modern platform economics, (ii) the economics of the...

The present paper provides an overview of literature on the shift to services. It follows the three dimensions of structural change - final demand, the inter-industry division of labor and inter-industry productivity differences. It first looks at the "classics", however (Fisher (1935), Clark...

We use two surveys to assess why work from home (WFH) varies so much across countries and people. A measure of cultural individualism accounts for about one-third of the cross-country variation in WFH rates. Australia, Canada, the UK, and the US score highly on individualism and WFH rates,...