Do firm entry and exit improve the competitiveness of regions? If so, is this a universal mechanism or is it contingent on the type of industry or region in which creative destruction takes place? This paper analyses the effect of firm entry and exit on the competitiveness of regions, measured...

This paper compares the aggregate effects of sectoral reallocation in the United States and Western Germany using a stochastic volatility model of sectoral employment growth. Reallocative shocks have no effect on the natural rate of unemployment in either country, and there is mild evidence that...

Bei Entscheidungen über abzulösende oder neue Anwendungssysteme kann mitHilfe funktionaler Anforderungen immer nur der gegenwärtige odervorhersehbare Bedarf ermittelt werden. In einem turbulenten Umfeld sind dieAnwendungssysteme jedoch häufig langere Zeit im Einsatz als die...

Word-of-mouth advertising involves activities to encourage consumers to talk about a product or company to friends and neighbours, setting in motion a chain of communication that could spread through a whole market. Each activity, itself small and relatively unimportant, could escalate through...

The divergence of unemployment rates between the United States and Europe coincided with a substantial acceleration in capital-embodied technical change in the late 1970s. Evidence suggests that European economies have lagged behind the United States in the adoption and usage of new...

There is often said to be a tension between the two types of organizational learning activities, exploration and exploitation. The argument goes that the two activities are substitutes, competing for scarce resources when firms need different capabilities and management policies. We present...

Extensive literature demonstrates that workers with high tenure suffer large and persistent earnings losses when they are displaced. We study the reasons behind these losses in a tractable search model that includes a lifecycle dimension, endogenous job mobility, and worker- and...