The machine tool industry, even though it is tiny, is often considered strategic because of its role as supplier of technology to all metalworking industry. In recent years, the machine tool industry in Western countries has had to face major new challenges, especially in the form of new...

This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of domestic and international acquisitions on various outcomes at target firm and product level. We apply recent methodological advances in the estimation of production functions together with information...

This paper develops a new international trade model with capital market imperfections and endogenous borrowing costs in general equilibrium. A key element of our model is that firm heterogeneity arises from the interaction of credit constraints at the firm-level with financial frictions at the...

We study the role of distance and time in statistically explaining price dispersion across 32 Swedish towns for 19 commodities from 1732 to 1914. The resulting large number of relative prices (502,689) allows precise estimation of distance and time effects, and their interaction. We find an...

Die vorliegende Studie untersucht mit Hilfe theoretischer Analysen und vertiefender Exper-teninterviews, welche Herausforderungen und Chancen für mittelständische Unternehmen mit der Mitwirkung in (globalen) Wertschöpfungsketten verbunden sind. In Wertschöpfungsketten mit hohem...

Trade costs such as applied tariffs, transportation and insurance costs are amplified as they pass through the multiple production steps associated with modern supply chains. This so-called "cascade effect" arises since trade costs accumulate as intermediate goods are imported and then...

This paper examines the relationship between foreign and domestic investment activity of multinational enterprises. The empirical analysis is based on micro data of German firms and their operations at home and abroad, including information on investment in fixed assets. The empirical approach,...

Previous firm-level literature established that there are substantial costs of entry into new export markets. Chaney (2014) opens the black-box of entry costs by building a dynamic network model of international trade where firms acquire customers in new destinations through their existing...

This paper studies how the presence of multinational enterprises affects the export performance of Bulgarian manufacturing firms - Export spillovers from FDI. Using export data at the firm/product/destination level for the period 2004-2006, we find positive forward spillover on export value and...