Results

CEP discussion paper

Sticky gravity

International trade flows show strong persistence over time. Standard static gravity models cannot rationalize this persistence and lack a micro-foundation for including lagged trade flows as a determinant of current tra...Read more...

Journal article

Journal of the European Economic Association:

Innovation union: costs and benefits of innovation policy coordination

What is the scope for international cooperation in innovation policy in economies closely integrated via trade? We address this question by building a two-region innovation-driven growth model with endogenous technology ...Read more...

Journal article

Management Science:

Communication within firms: evidence from CEO turnovers

This paper uses novel, firm-level communication measures derived from communications metadata several months before and after a CEO transition for 102 firms to study whether and how this organizational event is reflected...Read more...

Journal article

PNAS:

Coordination dynamics between fuel cell and battery technologies in the transition to clean cars

Significant progress reconciling economic activities with a stable climate requires radical and rapid technological change in multiple sectors. Here, we study the case of the automotive industry?s transition to electric ...Read more...

Journal article

Journal of Management Studies:

Business groups and export performance: the role of coordination failures and institutional configurations

We explore the nature of business groups (BGs) and their affiliates in emerging markets through the lens of the coordination failures associated with economic development. We propose that BGs develop distinct economic an...Read more...

CEP discussion paper

Quality of life in a dynamic spatial model

We develop a dynamic spatial model in which heterogeneous workers are imperfectly mobile and forward-looking and yet all structural fundamentals can be inverted without assuming that the economy is in a stationary spatia...Read more...

CEP discussion paper

Innovation union: costs and benefits of innovation policy coordination

We build a two-region endogenous growth model to analyse the gains from innovation policy cooperation in an economic union. The model is calibrated to two blocks of the EU: the old and new members. R&D subsidy coordinati...Read more...

Journal article

The Review of Economic Studies:

Estimating strategic models of international treaty formation

This article develops an empirical framework for analysing the timing of international treaties. A treaty is modelled as a dynamic game among governments that decide on participation in every period. The net benefit of t...Read more...

CEP discussion paper

The optimal timing of UI benefits: theory and evidence from Sweden

This paper provides a simple, yet general framework to analyze the optimal time profile of benefits during the unemployment spell. We derive simple sufficient-statistics formulae capturing the insurance value and incenti...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Investigating Agglomeration Economies in a Panel of European Cities and Regions

This paper investigates agglomeration economies in an annual panel of NUTS 2 and NUTS 3 city regions across France, Germany, Ireland, Italy, Spain and the UK over 1980-2006 and comparing three sub-samples to see if the e...Read more...

CEP discussion paper

Depression Econometrics: A FAVAR Model of Monetary Policy During the Great Depression

The prominent role of monetary policy in the U.S. interwar depression has been conventional wisdom since Friedman and Schwartz (1963). This paper presents evidence on both the surprise and the systematic components of mo...Read more...

CEP discussion paper

Interim Rank, Risk Taking and Performance in Dynamic Tournaments

Little is known about the effects of revealing information on relative performance during a dynamic tournament. We empirically study the impact of interim rank on risk taking and performance using data on professionals c...Read more...

CEP discussion paper

Tax Cuts in Open Economies

A reduction in income tax rates generates substantial dynamic responses within the framework of the standard neoclassical growth model. The short-run revenue loss after an income tax cut is partly - or, depending on para...Read more...

CEP discussion paper

International Trade, Minimum Quality Standards and the Prisoners' Dilemma

Unilateral minimum quality standards are endogenously determined as the outcome of a non-cooperative standard-setting game between the governments of two countries. Cross-country externalities from the implementation of ...Read more...

CEP discussion paper

Seigniorage

In this paper I analyse four different but related concepts, each of which highlights some aspect of the way in which the state acquires command over real resources through its ability to issue fiat money. They are (1) s...Read more...

CEP discussion paper

Trade and Growth with Heterogeneous Firms

This paper explores the impact of trade on growth when firms are heterogeneous. We find that greater openness produces anti-and pro-growth effects. The Melitz-model selection effects raises the expected cost of introduci...Read more...