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Many changes in the economic environment are local, including policy changes and infrastructure investments. The effect of these changes depends crucially on the ability of factors to move in response. Therefore a key ob...Read more...
Ferdinando Monte, Stephen J. Redding and Esteban Rossi-Hansberg
11 November 2015
Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: the standard practice of interpreting the parameters of log-linearized models ...Read more...
Joao Santos Silva and Silvana Tenreyro
This paper contains an empirical analysis demand for “work-group” (or low-end) servers. Servers are at the centre of many US and EU anti-trust debates, including the Hewlett-Packard/Compaq merger and investigations into ...Read more...
John Van Reenen