This paper uses a unique linked employer-employee data (LEED) set to examine thedeterminants of mergers and acquisitions and to study post-takeover employment. It findthat firms involved in takeovers are qualitatively different from non-takeover firms andthat post-takeover employment...

The adverse selection model is a principal-agent model defined by the objective functionof the principal, the agents’ utility function and the distribution of agents’ types. We provethat the nonparametric identification of this model requires the knowledge of at least one ofthe three...

We develop a novel approach to build consistent checks of parametric re-gression models when many regressors are present, based on a class of richenough semiparametric alternatives, namely single-index models. We proposean omnibus test based on the kernel method that performs against a...