When do firms adjust prices? Evidence from micro panel data

How Do House Prices Affect Consumption? Evidence from Micro Data

Housing is a major component of wealth. Since house prices fluctuate considerably over time, it is important to understand how these fluctuations affect households’ consumption decisions. Rising house prices may stimulate consumption by increasing households’ perceived wealth, or by relaxing borrowing constraints. This paper investigates the response of household consumption to house prices usi...

When Do Multinational Firms Outsource? Evidence From the Hotel Industry

Multinational …rms face two questions in deciding whether or not to outsource a stage of production. First, where should production be located? Second, who should own or control the productive assets? In this paper, we test two theories of these outsourcing decisions and we focus on the predictions for the ownership/control decision. We adapt the Antras and Helpman (2004) property rights and Gr...

Do Daily Retail Gasoline Prices adjust Asymmetrically?

When Do Research Consortia Work Well and Why? Evidence from Japanese Panel Data

We examine the impact of a large number of Japanese government-sponsored research consortia on the research productivity of participating firms by measuring their patenting in the targeted technologies before, during, and after participation. Consistent with the predictions of the theoretical literature on research consortia, we find consortium outcomes are positively associated with the level ...

Do Gun Buybacks Save Lives? Evidence from Panel Data

In 1997, Australia implemented a gun buyback program that reduced the stock of firearms by around one-fifth (and nearly halved the number of gun-owning households). Using differences across states, we test whether the reduction in firearms availability affected homicide and suicide rates. We find that the buyback led to a drop in the firearm suicide rates of almost 80%, with no significant effe...