Results

CEP discussion paper

What happens in Paris, does not stay in Paris: trade fairs and search and matching frictions

Search and matching frictions keep firms from forming international trade links. Trade fairs are a common, often subsidized remedy, yet causal evidence is scarce. We study Hungarian firms at the 1900 Paris World Exhibiti...Read more...

Blog

VoxEU:

Why inflation may respond faster to big shocks: The rise of state-dependent pricing

Macroeconomic models distinguish time-dependent pricing, where firms change prices at fixed intervals, from state-dependent pricing, where firms change prices in response to changing demand or costs. This column presents...Read more...

Journal article

The Econometrics Journal:

Design-based identification with formula instruments: a review

Many studies in economics use instruments or treatments that combine a set of exogenous shocks with other predetermined variables via a known formula. Examples include shift-share instruments and measures of social or sp...Read more...

CEP discussion paper

Empirical welfare analysis with hedonic budget constraints

We analyze demand settings where heterogeneous consumers maximize utility for product attributes subject to a nonlinear budget constraint. We develop nonparametric methods for welfare-analysis of interventions that chang...Read more...

Journal article

Journal of Industry Competition and Trade:

A new approach for better industrial strategies

Industrial policy is back. After having been considered a taboo since the 1970s, ?new industrial policies? are at the core of governments? strategies to support countries during crises and enable the green and digital tr...Read more...

Journal article

Research Policy :

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

Journal of Business and Economic Statistics:

Analyzing subjective well-being data with misclassification

We use novel nonparametric techniques to test for the presence of nonclassical measurement error in reported life satisfaction (LS) and study the potential effects from ignoring it. Our dataset comes from Wave 3 of the U...Read more...

CEP discussion paper

International buyers' sourcing and suppliers' markups in Bangladeshi garments

Large international buyers play a key role in global value chains. We exploit detailed transaction-level data on the usage of material inputs to study how Bangladeshi garment suppliers' markups vary across international ...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Do Homeowners Benefit Urban Neighborhoods? Evidence from Housing Prices

Homeownership is heavily subsidized in many countries mainly through the tax code. The adverse effects of lenient tax treatment of owner-occupied housing on economic efficiency and growth are large and well documented in...Read more...

CEP discussion paper

The Determinants of Intrafirm Trade: Evidence from French Firms

How well does the theory of the firm explain the choice between intrafirm and arms' length trade? This paper uses firm-level import data from France to look into this question. We find support for three key predictions o...Read more...

CEP discussion paper

The Interrelationship between HR, Strategy and Profitability in Service SMEs: Empirical Evidence from the UK Tourism Hospitality and Leisure Sector

We investigate the strategies, HR attributes and their synergies that are associated with superior performance in service SMEs using data from the UK Tourism Hospitality and Leisure (THL) sector. A major advantage of our...Read more...

CEP discussion paper

US Real Interest Rates and Default Risk in Emerging Economies

We empirically analyse the appropriateness of indexing emerging market sovereign debt to US real interest rates. We find that policy-induced exogenous increases in US rates raise default risk in emerging market economies...Read more...

CEP discussion paper

Instrumental Variables for Binary Treatments with Heterogeneous Treatment Effects: A Simple Exposition

This note provides a simple exposition of what IV can and cannot estimate in a model with a binary treatment variable and heterogeneous treatment effects. It shows how linear IV is a misspecification of functional form a...Read more...