EdTech, which includes computer assisted learning (CAL), online education, and remote instruction, was expanding rapidly even before the current full-scale substitution for in-person learning at all levels of education around the world because of COVID-19. Studies of CAL interventions often find...

This paper shows that corporate risk-taking is a response to peer influence. Firms take more risks if they encounter greater peer firms’ risk-taking. We further identify four plausible channels through which peer influence on corporate risk-taking operates. First, we find that firms with...

Economic and monetary reunification in Germany has proved to be more expensive than previously thought - and not just for the Germans. If a `Mezzogiorno' problem of continuing fiscal transfers to the East and possible migration flows westwards are to be avoided, there must be convergence in...

We develop a rationale for the payment by firms of a wage premium on marginal, or overtime, weekly hours. We examine wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The wage premium serves to achieve contract efficiency. For...

The early 1990s marked a distinction between the EMS as a vehicle for creating monetary stability and the EMS as a vehicle for moving towards monetary union. We model that distinction by contrasting policies generated by preference transfers from the lead country (to create the EMS discipline of...

This paper analyzes the causal relations between firms' productivity, factor intensity and export participation. Using propensity score matching techniques and firm-level panel data for Chinese manufacturing firms over the 1998-2007 period, we find strong evidence of domestic firms...