Results

Journal article

Journal of Environmental Economics and Management:

Trade and the scopes of pollution: evidence from China?s world market integration

Although the environmental impact of trade has been a long-standing concern, there is still scant evidence on the channels through which international market access affects pollution. We exploit the unique episode of Chi...Read more...

CEP discussion paper

Employer market power: models and methods

It is now widely recognized that employers hold some wage-setting power over workers, and several recent reviews cover the resulting surge of research on monopsony. We take a high-level view, introducing the idea of the ...Read more...

Journal article

Regional Science and Urban Economics:

Ports, technology and inter-city trade: the economics and geopolitics of evolving maritime transport networks

Maritime transport remains the backbone of global trade, yet the port and ship- ping network that carries it has been transformed by containerization and related technological advances. Drawing on newly available granula...Read more...

CEP discussion paper

Ports, technology and inter-city trade: the economics and geopolitics of evolving maritime transport networks

Maritime transport remains the backbone of global trade, yet the port and shipping network that carries it has been transformed by containerization and related technological advances. Drawing on newly available granular ...Read more...

CEP discussion paper

Trade and the scopes of pollution: evidence from China's world market integration

Although the environmental impact of trade has been a long-standing concern, there is still scant evidence on the channels through which international market access affects pollution. We exploit the unique episode of Chi...Read more...

CEP discussion paper

The civil war reduced slave owners' economic power but increased their political influence

Did Southern elites? economic losses from abolition translate into diminished political influence? Using novel census-linked data on state lawmakers across four slave owning and two Northern states (1850?1880), we docume...Read more...

CEP discussion paper

Criminal career trajectories

This study analyzes criminal career trajectories using a unique administrative dataset of 230,578 individuals arrested and over 620,000 criminal offenses recorded by Greater Manchester Police between 2008 and 2019. Movin...Read more...

CEP discussion paper

Cocaine goes bananas: global spillovers from an illicit supply shock

We study how a sharp expansion in Colombian cocaine production propagated internationally through global trade networks, generating substantial social costs. In Colombia, the production surge increased homicide rates by ...Read more...

CEP discussion paper

The economics of the electric vehicle transition: demand, supply chains, and innovation

Electric vehicles (EVs) are central to decarbonising road transport, a sector responsible for 23% of global energy-related emissions, and their adoption carries both economic and societal implications. This paper provide...Read more...

Journal article

Spatial Economic Analysis:

Digital network centrality and the structure of goods trade

This paper studies how digital infrastructure is associated with the spatial structure of international trade in goods. We embed data availability into a structural gravity framework, conceptualising it as an information...Read more...

CEP discussion paper

Digital network centrality and the structure of goods trade

This paper studies how digital infrastructure is associated with the spatial structure of international trade in goods. We embed data availability into a structural gravity framework, conceptualizing it as an information...Read more...

CEP discussion paper

Technology spillovers, diffusion and rivalry in firm networks

We examine how upstream firms' technology adoption affects the performance and adoption decisions of downstream partners. Using business-to-business data with administrative records on advanced technology adoption, we fi...Read more...

CEP discussion paper

On the shoulders of giants: financial spillovers in innovation networks

Do markets price knowledge spillovers? We show that patent grants influence the stock returns of firms that are connected through technological knowledge dependencies. Using directed patent citations among publicly liste...Read more...

Journal article

Oxford Review of Economic Policy:

Green transitions: complementarities, multiple equilibria, and tipping points

With strategic complementarities stemming from peer effects in demand or technological spillovers, propagation and amplification mechanisms increase the effectiveness of climate policies. This suggests that climate goals...Read more...

Journal article

Economics Letters:

Do larger firms exert more market power? Markups and markdowns along the size distribution

Combining financial statements with firm-level product prices, we find that larger firms exhibit lower markups, although they are overcompensated by substantially higher wage markdowns. We explain our divergence from pri...Read more...

CentrePiece article

Return innovation: how migration shapes diffusion of new technologies

Novel products, processes and technologies are important drivers of economic growth. Davide Coluccia and Gaia Dossi show how migrants from Britain to the United States in the late 19th and early 20th century not only too...Read more...

CentrePiece article

The price of power: why rising markups hurt innovation and widen inequality

Over the past four decades, the United States has seen rising market power, slowing productivity growth and deepening wealth inequality. Giammario Impullitti and Pontus Rendahl explore how declining competition may be th...Read more...

CEP discussion paper

Productivity, matchability and intermediation in production networks

This paper examines intermediation in production networks to unpack the firm attributes and matching costs that govern firm-to-firm networks and the gains from trade. Exploiting rich customs data for Chile, we show that ...Read more...

Journal article

American Economic Review: Insights:

Induced innovation, inventors, and the energy transition

We study how individual inventors respond to incentives to work on ?clean? electricity technologies. Using natural gas price variation, we estimate output and entry elasticities of inventors and measure the medium-term i...Read more...

CEP discussion paper

Market power, growth and wealth inequality

In recent decades, the United States has experienced a notable rise in markups, a slowdown in productivity growth, and an increase in wealth inequality. We present a framework that unifies these trends into a common driv...Read more...

CEP discussion paper

Return innovation: the knowledge spillovers of the British migration to the United States, 1870-1940

This paper documents that out-migration promotes the diffusion of innovation from the country of destination to the country of origin of migrants. Between 1870 and 1940, nearly four million British immigrants settled in ...Read more...

CEP discussion paper

Industry concentration in Europe: trends and methodological insights

Concentration - the share of an industry's output accounted for by its largest firms and a frequently used proxy of competition - has increased in European countries. This paper provides evidence about this development b...Read more...

Chapter

New technologies and evolving market structures

in Handbook on Labour Markets in Transition

This Chapter investigates the relationship between technological changes, labour market frictions, and firms' labour market power. We provide guidance through the main trends that characterised labour markets during the ...Read more...

CEP discussion paper

Global robots

The diffusion of automation technology raises questions about the future of work, leading to calls for policy interventions. The ongoing debate centers on the decisions made by technology adopters. In this paper, I study...Read more...

CEP discussion paper

Paternity leave and child development

We study the effect of paternity leave on early child development. We collect survey data on 5,000 children under age six in Spain and exploit several extensions of paternity leave that took place between 2017 and 2021. ...Read more...

CEP discussion paper

Firm heterogeneity and imperfect competition in global production networks

How do production networks and market structure interact to shape the effects of trade and competition policy? We develop a model with two-sided firm heterogeneity, matching frictions, and imperfect supplier competition....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...

CEP discussion paper

Gender, careers and peers' gender mix

We use Italian Social Security data to study how the gender composition of a worker's professional network influences their career development. By exploiting variation within firms, occupations, and labor market entry co...Read more...

Journal article

Energy Economics:

Are friends electric? Valuing the social costs of power lines using house prices

Overhead electrical power lines and pylons have long raised concerns regarding the effects of electromagnetic fields on health, noise pollution and the visual impact on rural landscapes. These issues are once again salie...Read more...

Journal article

American Economic Journal: Microeconomics:

Technology transfer in global value chains

Global value chains create opportunities for North-South technology diffusion. This paper studies technology transfer in value chains when contracts are incomplete and input production technologies are imperfectly exclud...Read more...

CEP discussion paper

Mark-ups in the digital era

Relying on a novel dataset which combines balance sheet data on firms, patents, and industry-level proxies of technology for 25 countries in the period 2001-2014, we document an increase in mark-ups over time, mainly dri...Read more...

CEP discussion paper

Why delay? Understanding the construction lag, aka the build out rate

We explore the determinants of the speed of residential development after dwelling construction starts. Using a sample of over 140,000 residential developments in England from 1996 to 2015 and employing an instrumental v...Read more...

Journal article

Regional Studies:

Global production networks meets evolutionary economic geography

Two of the canonical approaches in regional studies are global production networks (GPNs) and evolutionary economic geography (EEG). Recent geopolitical and economic events have shown the importance of both theories in e...Read more...

CEP discussion paper

Estimating the longevity of electric vehicles: what do 300 million MOT test results tell us?

Knowing how long the average vehicle remains roadworthy before being scrapped is a crucial input into life cycle assessment (LCA) and total cost of ownership (TCO) studies of different vehicle powertrains. This study lev...Read more...

Journal article

PLoS ONE :

Access to digital finance: Equity crowdfunding across countries and platforms

Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding ...Read more...

CentrePiece article

Geopolitics and the electric vehicle revolution

Rising demand for electric vehicles (EVs) is changing the geopolitical landscape, as the world pivots away from fossil fuels towards the green minerals critical to the EV supply chain. Benjamin Jones, Viet Nguyen-Tien, R...Read more...

CEP discussion paper

Do larger firms exert more market power? Markups and markdowns along the size distribution

Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, w...Read more...

Journal article

Comparative Economic Studies:

Political connections, business groups and innovation in Asia

It is acknowledged that Asia?s remarkable economic achievements of the past 50 years build on institutional arrangements very different from the West, including the central role of business groups (BGs) as an organisatio...Read more...

CEP discussion paper

Are friends electric? Valuing the social costs of power lines using house prices

Overhead electrical power lines and pylons have long raised concerns regarding the effects of electromagnetic fields on health, noise pollution and the visual impact on rural landscapes. These issues are once again salie...Read more...

CEP discussion paper

The measure of monopsony: the labour supply elasticity to the firm and its constituents

The estimation of labour supply elasticities is central to the measurement of monopsony power in the labor market. In this paper I provide new, firm-level estimates of the labour supply elasticity that distinguish betwee...Read more...

Journal article

Journal of Human Resources:

Parental education and the responses to higher SAT scores

Using discontinuities within the Swedish SAT system, we study the causal impact of additional admission opportunities on participation in higher education among high-ability students. Students with low-educated parents w...Read more...

Journal article

Research Policy:

Global value chains and domestic innovation

This paper explores how changes in both position and participation in Global Value Chain (GVC) networks affect firm innovation. The analysis combines matched patent-firm data for Japan with measures of GVC network centra...Read more...

CEP discussion paper

Who stands on the shoulders of Chinese (scientific) giants? Evidence from chemistry

China's rise in science has the potential to push forward the knowledge frontier, but mere production of knowledge does not guarantee that others are able to build on it. We ask whether chemistry research originating fro...Read more...

Journal article

Applied Energy:

Breaking it down: a techno-economic assessment of the impact of battery pack design on disassembly costs

The electrification of the transport sector is a critical part of the net-zero transition. The mass adoption of electric vehicles (EVs) powered by lithium-ion batteries in the coming decade will inevitably lead to a larg...Read more...

CEP discussion paper

Who's got the power? Wage determination and its resilience in the Great Recession

Whereas wage inequality has risen markedly in most OECD countries in recent decades, it has fallen in several Southern European economies. To shed light on this phenomenon, we embed sectoral bargaining, which is common i...Read more...

CEP discussion paper

Sparse production networks

Firm-to-firm connections in domestic and international production networks play a fundamental role in economic outcomes. Firm heterogeneity and the sparse nature of firm-to-firm connections implicitly discipline network ...Read more...

Journal article

The World Economy:

The electric vehicle revolution: critical material supply chains, trade and development

The emergence of a mass market for electric vehicles (EVs) offers development opportunities for countries that have abundant resources of cobalt, nickel, lithium, copper, aluminium and manganese. Not surprisingly, develo...Read more...

Journal article

Applied Energy:

Optimising the geospatial configuration of a future lithium-ion battery recycling industry in the transition to electric vehicles and a circular economy

Rapid electrification of the transport system will generate substantial volumes of Lithium-ion-battery (LiB) waste as batteries reach their end-of-life. Much attention focuses on the recycling processes, neglecting a bro...Read more...

CEP discussion paper

Market size, markups and international price dispersion in the cement industry

Prices for several intermediate inputs, including cement, are higher in developing economies - particularly in Africa. Combining data from the International Comparison Program with a global directory of cement plants we ...Read more...

Blog

LSE Business Review:

Green growth and electric vehicles: the role of recycling

The UK needs an electric vehicle (EV) battery recycling industry. This could strengthen the British EV supply chain and support the future development of UK-based gigafactories (large-scale battery factories) and electri...Read more...

Journal article

Journal of Political Economy:

The origins of firm heterogeneity: a production network approach

We explore firm size heterogeneity in production networks. In comprehensive data for Belgium, firms with more customers have higher total sales but lower sales and lower market shares per customer. Downstream factors, es...Read more...

Journal article

Energy for Sustainable Development :

Assessing reliability of electricity grid services from space: the case of Uttar Pradesh, India

While most households around the world have access to electricity, the number of hours per day when the grid supplies them with adequate voltage can be low. Improving the reliability of electricity is crucial to make pro...Read more...

Journal article

Management Science:

Vertical integration and foreclosure: evidence from production network data

This paper studies the prevalence of potential anticompetitive effects of vertical mergers using a novel data set on U.S. and international buyer-seller relationships and across a large range of industries. We find that ...Read more...

Blog

VoxEU:

Inflation, market power, and price controls: views of leading economists

With sharply rising US inflation prompting debate about the potential role of powerful firms in driving up prices and whether antitrust interventions and/or price controls may be an effective policy response, the IGM For...Read more...

Journal article

Energy Economics:

Power outages and firm performance: a hydro-IV approach for a single electricity grid

We estimate the impact of power outages on firm performance using a hydro-instrumental variable strategy which integrates a river flow with a hydropower generation model and an electricity-grid-based distance interpolati...Read more...

CEP discussion paper

Do carbon offsets offset carbon?

We develop and implement a new method for identifying wasted subsidies and use it to provide systematic evidence of the misallocation of carbon offsets in the Clean Development Mechanism - the world's largest carbon offs...Read more...

Journal article

Management Science:

Stars and brokers: knowledge spillovers among medical scientists

This paper estimates the heterogeneity in peer effects among research scientists in terms of network position. I propose a new measure, brokerage degree, that determines the extent to which a scientist depends on a coaut...Read more...

Journal article

Journal of Environmental Economics and Management:

Green product innovation in industrial networks: a theoretical model

Previous studies have modeled green technological change as innovations in the process of production (e.g., abatement technologies or energy sources). But greening the economy also requires changing products. The automot...Read more...

Journal article

The Lancet Public Health :

Policy stringency and mental health during the Covid-19 pandemic: a longitudinal analysis of data from 15 countries

To date, public health policies implemented during the COVID-19 pandemic have been evaluated on the basis of their ability to reduce transmission and minimise economic harm. We aimed to assess the association between COV...Read more...

Journal article

Journal of Economic Behavior and Organization:

Born in the family: preferences for boys and the gender gap in math

We study the effect of preferences for boys on the performance in mathematics of girls, using evidence from two different data sources. In our first set of results, we identify families with a preference for boys by usin...Read more...

CEP discussion paper

No inventor is an island: social connectedness and the geography of knowledge flows in the US

Do informal social ties connecting inventors across distant places promote knowledge flows between them? To measure informal ties, we use a new and direct index of social connectedness of regions based on aggregate Faceb...Read more...

Journal article

Quarterly Journal of Economics:

Misallocation in the market for inputs: enforcement and the organization of production

The strength of contract enforcement determines how firms source inputs and organize production. Using microdata on Indian manufacturing plants, we show that production and sourcing decisions appear systematically distor...Read more...

CEP discussion paper

Prime locations

We harness big data to detect prime locations - large clusters of knowledge-based tradable services - in 125 global cities and track changes in the within-city geography of prime service jobs over a century. Historically...Read more...

CEP discussion paper

Gravity in international finance: evidence from fees on equity transactions

We shed light on the impact of institutional quality and information barriers on trade in financial services using a novel panel data set on revenue earned on domestic and cross-border equity securities underwriting tran...Read more...

CEP discussion paper

Family background and the responses to higher SAT scores

Using discontinuities within the Swedish SAT system, we show that additional admission opportunities causally affect college choices. Students with high-educated parents change timing, colleges, and fields in ways that a...Read more...

CEP discussion paper

The rise of agribusiness and the distributional consequences of policies on intermediated trade

Policies to encourage agribusinesses-led development of crop markets are high on the agenda of many policy-makers. Since the 1980s, several countries have moved to a model in which agribusinesses provide market access to...Read more...

CEP election analysis

Energy and climate change

UK greenhouse gas (GHG) emissions are declining and have been declining for some time. As of 2018, the UK emitted 449 million tonnes of CO2 equivalent (tCO2e). That corresponds to a reduction of 43% relative to 1990 lev...Read more...

CEP discussion paper

Vertical integration and foreclosure: evidence from production network data

This paper studies the prevalence of vertical market foreclosure using a novel dataset on U.S. and international buyer-seller relationships, and across a large range of industries. We find that relationships are more lik...Read more...

Journal article

Physica A: Statistical Mechanics and its Applications:

A tale of two tails: do Power Law and Lognormal models fit firm-size distributions in the mid-Victorian era?

The paper explores the frequency and size distributions of firm-size in a novel dataset for the mid-Victorian era from a recent extraction of the England and Wales population censuses of 1851, 1861, 1871, and 1881. The p...Read more...

Journal article

Journal of Political Economy:

Production networks, geography, and firm performance

This paper examines the importance of buyer-supplier relationships for firm performance. We develop a model in which firms outsource tasks and search for suppliers. Lower search and outsourcing costs lead firms to search...Read more...

Journal article

Journal of Urban Economics:

Why does birthplace matter so much?

We consider the link between birthplace and wages. Using a unique panel dataset, we estimate a raw elasticity of wages with respect to birthplace size of 4.2%, two thirds of the 6.8% raw elasticity with respect to city s...Read more...

CEP discussion paper

The origins of firm heterogeneity: a production network approach

This paper quantifies the origins of firm size heterogeneity when firms are interconnected in a production network. Using the universe of buyer-supplier relationships in Belgium, the paper develops a set of stylized fact...Read more...

Journal article

Economica:

Leveraging monopoly power by degrading interoperability: theory and evidence from computer markets

When will a monopolist have incentives to leverage her/his market power in a primary market to foreclose competition in a complementary market by degrading compatibility/interoperability of her/his products with those of...Read more...

CEP discussion paper

Increasing differences between firms: market power and the macro-economy

A rich understanding of macro-economic outcomes requires taking into account the large (and increasing) differences between firms. These differences stem in large part from heterogeneous productivity rooted in managerial...Read more...

CEP discussion paper

Misallocation in the market for inputs: enforcement and the organization of production

The strength of contract enforcement determines how firms source inputs and organize production. Using microdata on Indian manufacturing plants, we show that production and sourcing decisions appear systematically distor...Read more...

Journal article

Annual Review of Economics:

Networks and trade

Trade occurs between firms both across borders and within countries, and most trade transactions include at least one large firm with many trading partners. This article reviews the literature on firm-to-firm connections...Read more...

CEP discussion paper

Geography, ties and knowledge flows: evidence from citations in mathematics

Using data on academic citations, career and educational histories of mathematicians, and disaggregated distance data for the world's top 1000 math departments, we study how geography and ties affect knowledge flows amon...Read more...

CEP discussion paper

Networks and trade

Trade occurs between firms both across borders and within countries, and the vast majority of trade transactions includes at least one large firm with many trading partners. This paper reviews the literature on firm-to-f...Read more...

Journal article

The Economic Journal:

Guarding the guardians

Good government requires some restraints on the powerful but how can those be imposed if there is no-one above them? This article studies the equilibrium allocation of power and resources established by self-interested i...Read more...

Journal article

The Economic Journal:

Adjusting your dreams? High school plans and dropout behaviour

At the end of middle school, many low-achieving students realise that they do not have the ability to get into selective high school programmes, which may be a source of disengagement and eventually lead them to drop out...Read more...

Journal article

Journal of Urban Economics:

Sorting and agglomeration economies in French economics departments

Are agglomeration and peer effects at stake in academic research? To tackle this question, we study how departments? characteristics affect the quantity and quality of academics? publications in economics in France, cont...Read more...

Journal article

Journal of Environmental Economics and Management:

Does the presence of wind turbines have negative externalities for people in their surroundings? Evidence from well-being data

Throughout the world, governments foster the deployment of wind power to mitigate negative externalities of conventional electricity generation, notably CO2 emissions. Wind turbines, however, are not free of externalitie...Read more...

Journal article

American Economic Review:

Firm size distortions and the productivity distribution: evidence from France

We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies it to France where man...Read more...

CEP discussion paper

Production networks, geography and firm performance

This paper examines the importance of buyer-supplier relationships, geography and the structure of the production network in firm performance. We develop a simple model where firms can outsource tasks and search for supp...Read more...

CEP discussion paper

Vertical transmission of overweight: evidence from English adoptees

We examine the vertical transmission of overweight drawing upon a sample of English children, both adopted and non-adopted, and their families. Our results suggest strong evidence of an intergenerational association of o...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Economic Value of Local Social Networks

The idea that local social capital yields economic benefits is fundamental to theories of agglomeration, and central to claims about the virtues of cities. However, this claim has not been evaluated using methods that pe...Read more...

CEP discussion paper

Pushing on a string: US monetary policy is less powerful in recessions

We estimate the impulse response of key US macro series to the monetary policy shocks identified by Romer and Romer (2004), allowing the response to depend flexibly on the state of the business cycle. We find strong evid...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Do Large Departments Make Academics More Productive? Agglomeration and Peer Effects in Research

We study the effect of a large set of department characteristics on individual publication records. We control for many individual time-varying characteristics, individual fixed-effects and reverse causality. Department ...Read more...

CEP discussion paper

Firm Size Distortions and the Productivity Distribution: Evidence from France

We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies it to France where man...Read more...

CEP discussion paper

A Model of Equilibrium Institutions

Institutions that serve the interests of an elite are often cited as an important reason for poor economic performance. This paper builds a model of institutions that allocate resources and power to maximize the payoff o...Read more...

CEP discussion paper

The Wealth and Poverty of Nations: True PPPs for 141 Countries

I set out a new method for estimating true (Konus) PPPs. Household consumption per head deflated by these PPPs answers the question: by how much must the average expenditure per head of poor country A be increased to ena...Read more...

CEP discussion paper

The Penn-Belassa-Samuelson Effect in Developing Countries: Price and Income Revisited

It is conventional wisdom that richer countries have a higher price level than poorer countries. This paper provides evidence that the price-income relationship is non-linear and that it turns negative, or at best flat, ...Read more...

Blog

LSE British Politics and Policy:

From `Plan B? to `Plan V?: what the UK economy needs to reboot and rebalance growth

With the threat of stagflation and interest rate rises, the current economic climate shows little sign of improvement in the near future. John Van Reenen finds that the government?s severe austerity programme, with its v...Read more...

CEP discussion paper

Bank Bailouts, International Linkages and Cooperation

Financial institutions are increasingly linked internationally. As a result, financial crisis and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for b...Read more...

CEP discussion paper

Monetary Policy Rules and Foreign Currency Positions

Using an endogenous portfolio choice model, this paper examines how different monetary policy regimes can lead to different foreign currency positions by changing the cyclical properties of the nominal exchange rate. We ...Read more...

CEP discussion paper

Crisis? What Crisis? Currency vs. Banking in the Financial Crisis of 1931

This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately...Read more...

CEP discussion paper

Networks in the Premodern Economy: the Market for London Apprenticeships, 1600-1749

This paper examines the importance of social and geographical networks in structuring entry into skilled occupations in premodern London. Using newly digitised records of those beginning an apprenticeship in London betwe...Read more...

CEP discussion paper

Institutions and the Management of Human Resources: Incentive Pay Systems in France and Great Britain

Using data from large-scale establishment surveys in Britain and France, we show that incentive pay for non-managers is more widespread in France than in Britain. We explain this finding in terms of the `beneficial const...Read more...

CEP discussion paper

Unemployment Insurance and Cultural Transmission: Theory and Application to European Unemployment

This paper emphasizes the two-way causality between the provision of unemployment insurance and the cultural transmission of work ethic. Values affect the size of the moral-hazard problem and, hence, the policy to be imp...Read more...

CEP discussion paper

Competing for Contacts: Network Competition, Trade Intermediation and Fragmented Duopoly

A two-sided, pair-wise matching model is developed to analyse the strategic interaction between two information intermediaries who compete in commission rates and network size, giving rise to a fragmented duopoly market ...Read more...