This paper provides a direct estimate of the cost efficiencies of firms in the US solar energy industry. It suggests that the cost efficiency in the industry is associated with the risk-bearing behaviour of firms. Less efficient firms maintain low price-cost margins and high labour–capital...

Previous literature concerning immigrant financial market participation has typically treated the immigrant population as a homogeneous collective. However, the immigrant population in the United States is incredibly diverse, particularly in regards to country of origin. Using panel data, we...

The prolific (serial) inventors set up the core of the paper. Prolific inventors tend to have a high productivity in terms of inventions (patents) having in general more economic value. The capacity to produce a lot of inventions (patents) is termed “prolificness”. We want to deepen our...

Conventional trade theory, which combines the Heckscher-Ohlin theory and the Stolper-Samuelson theorem, implies that expanded trade between developed and developing countries will increase wage equality in the former. This theory is widely applied. It serves as the basis for estimating the...

We analyze the distributional and efficiency impacts of different allowance allocation schemes for a national cap and trade system using the USREP model, a new recursive dynamic computable general equilibrium model of the U.S. economy. We consider allocation schemes applied to a comprehensive...

Pharmaceutical linkage and sanitary permits are among the hot topics assessed when analyzing free trade agreements dealing with intellectual property matters. The present paper is part of an ongoing project that aims to analyze the Chilean pharmaceutical patent system and the challenges derived...

This is one of the first large-scale studies to examine the voluntary disclosure practices of foreign firms cross-listed in the United States. We proxy for voluntary disclosure using three attributes of firms' management earnings guidance: (1) the likelihood of issuance; (2) the frequency of...

To what extent do politicians reward voters who are members of their own ethnic or racial group? Using data from large cities in the United States, we study how black employment outcomes are affected by changes in the race of the cities' mayors between 1971 and 2003. We find that black...

The U.S. Federal Reserve has committed hundreds of billions of dollars in unprecedented lending activities and purchases of mortgage-backed securities based upon its authority under the Federal Reserve Act, and particularly upon its interpretation of Section 13(3), a formerly untested and unused...