Being able to manage growth, improve results, change behavioral attitudes and innovate are legitimate aspirations in the search for an improved performance, even though they are not the only ones. At the beginning, it was believed that productive specialization and scale would be sufficient to...

This study assesses the impact of the single market program (SMP) and the European monetary union (EMU) on the German banking sector. As a main result, the introduction of the EMU can be assessed as more important for the German banking system than the SMP because of the relative liberal...

This paper reviews empirical and theoretical work concerning the relationship between innovative activities of firms and the dynamics of industries. Stylized facts on industry evolution and the analysis of industrial dynamics in general are a first building block. This discussion just reflects a...

A parsimonious theoretical model of second degree price discrimination suggests that the business cycle will affect the degree to which firms are able to price-discriminate between different consumer types. We analyze price dispersion in the airline industry to assess how price discrimination...

Do firms employing undocumented workers have a competitive advantage? Using administrative data from the state of Georgia, this paper investigates the incidence of undocumented worker employment across firms and how it affects firm survival. Firms are found to engage in herding behavior, being...