I estimate the impact of foreign-owned large plant closures on local firms. I identify 41 such events in Hungary and assign comparable control cities with foreign-owned large plants operating in the same industry and not closing. I use a firm-level panel database of Hungarian firms between 1992...

Local labor market shocks are difficult to insure against. Using confidential micro data from the U.S. Census Bureau's Longitudinal Business Database, we document that firms redistribute the employment impacts of local demand shocks across regions through their internal networks of...

In this paper we consider the predictors of the business cycle in Great Britain, where the claimant count and unemployment rate are found to be key indicators associated with turning points. Next, we consider at a micro-economic level, using disaggregated local authority level data, a number of...