This paper argues that the persistence of greenfield foreign direct investment (FDI) comesfrom information frictions. First, our simple social learning model shows that, through signaling effects, information frictions generate persistent greenfield FDI inflows. Second, we show empirically that...

The primary approach to studying lobbying assumes that it allows interests to provide information to politicians. Literature has largely focused on the strategies that lobbyists can use to overcome the problem of credible communication under misalignment of preferences. This appears at odds with...

Using a difference-in-differences identification strategy on a micro panel at the bank and firm level, we study the transmission effectiveness of ECB’s large-scale asset purchasing programs programs (i.e. APP and PEPP) in the Euro area. Our findings show: first, balance sheet composition of...

Measuring economic uncertainty is challenging, but it is important for policymakers to address it, especially in countries for which there are virtually no uncertainty indices. This article proposes an index of economic uncertainty for Poland, EURQPL, based on Internet searches for specific...

This paper investigated the structure of the market, efficiency and performance (profitability) of the general insurance industry in the Ghanaian economy. The overriding objective was to evaluate the impact that regulatory informed market structure would have on the pricing behaviour; examining...

We study the effect of conflict on firms’ economic performance and explore the underlying mechanisms. Combining an original retrospective panel dataset of Libyan firms with geolocalized data on conflict events, we build a firm-specific measure of conflict exposure and use its within-firm...

In this paper we provide firm-level evidence on the role of resource misallocation for total factor productivity development in Austria. We apply the indirect approach of measuring misallocation via the dispersion in marginal products within narrowly defined industries of Hsieh and Klenow (2009)...

We consider a multi-period, limited capacity, unsegmented airline pricing model whose solution returns a sequence of increasing prices based on the order of sale. We show that a positive demand shock corresponding to an increase in the arrival rate reduces within-period price dispersion and has...

European firms have increasingly invested in training of employees but differences across countries and types of firms remain and the Covid-19 shock may have exacerbated them. This report analyses European firms' investment in training over the last six years examining trends, factors supporting...

This paper empirically analyzes the effects of competition on price and non-price dimensions on the example of superstore entries. Using a rich retail panel from 2006 to 2016 and a data set documenting locations and opening dates of superstores, allows to identify competitive effects with the...