In their dealings with retailers and suppliers, regulations and warranties ensure that consumers can seek a repair, a replacement or a refund if the good they have purchased is faulty. The evidence, however, indicates that few consumers pursue any form of compensation, suggesting that, for most...

In this paper, we seek to understand how a multi-product multi-market firm (for example, a multinational firm) designs its organizational structure and compensation scheme when its profitability is conditioned by how market information flows within the company. By modifying its organizational...

We develop a quantitative theory of entrepreneurship, income inequality, and financial frictions disciplined with household data from Brazil. The theory extends Lucas (1978) by modeling heterogeneity in two skills: -working and managerial skills. Consistently with the evidence, the theory...

This paper analyzes a sample of economists from two sources: faculty members working in2007 in a selection of the 81 top Economics departments in the world, and Fellows of the Econometric Society active at that date but working elsewhere in other institutions. Productivity is measured in terms...

Using micro data from the Austrian Labor Force Survey, this paper explores how decreases in the gender differential in participation rates together with increasing differentials in the incidence of part-time jobs and stable or rising levels of occupational segregation by gender affect the gender...

We present empirical evidence on whether the introduction of the euro has changed the effect of economic fundamentals on the growth rates of euro countries’ GDPpc and GDPpc volatility. We find that the effect of increments in debt on economic growth exhibits a structural break in 1999. A...

We study the effects on infant mortality of the introduction in 1995 of a non-contributoryuniversal pension scheme in Nepal known as the Old age Allowance Program. We use crosssectionaldata from the 1996 and 2001 Nepal Demographic and Health Surveys. Following astandard diff-in-diffs approach,...

From experience, fund-raisers learn to become more efficient solicitors. This paper incorporates fund-raising technology into the theory of charitable giving. A full characterization of the solicitation strategy that maximizes donations net of fund-raising costs is provided. The strategy...

Dynamic interactions among stock return, Research and Development (R&D) expenses, patent applications based on R&D investment, and the propensity to patent are studied in this work for a panel of firms from the United States. The panel includes technologically similar firms, neck-to-neck, mostly...

A critique that has been directed towards the log-GARCH model is that its logvolatility specification does not exist in the presence of zero returns. A common "remedy" is to replace the zeros with a small (in the absolute sense) non-zero value. However, this renders Quasi Maximum Likelihood...