This research-in-progress paper investigates the relationship among the use of social networking sites (SNSs), users’ social capital and knowledge sharing through digital Word of Mouth (WOM). The rise of SNSs has changed the way people interact and network. SNSs make it possible for users to keep track of their existing relationships and to build new ones. The SNSs have potential to build socia...

The overall objective of the paper is to analyze convergence of CO2 emission intensity across manufacturing sectors in Sweden. Our approach differs from previous work on carbon convergence in that it employs a theoretical framework to construct a CO2 performance index, which explicitly takes into account that industrial firms produce good as well as bad outputs. This index is then used as the d...

In this paper we show that firms’ market power and flexibility in the utilization of capital crucially affect how investment-specific technology (IST) shocks impact asset prices. We develop a two-sector general equilibrium model in which households have recursive preferences and obtain three main results. First, the equilibrium price of risk for IST shocks changes sign from negative, under fixe...

This paper presents a specific factor model of a small open economy to show the factor price effect and welfare effect of offshoring. Different to ambiguous wage effect conclusions of offshoring under Heckscher-Ohlin framework, the conclusions of this paper is clear-cut. Offshoring will benefit specific factor (skilled labour and land), hurts some non-specific factor (unskilled labour), and enl...

This paper uses firm-level data on 162 large Hungarian enterprises to analyse the relationship between ownership structure and corporate performance in 1998 and 1999. Cross-sectional regressions are run for each of these years using the return on assets (ROA) as the measure of performance. Both after-tax profits and operating profits are used to produce the ROA variable. The signs of the regres...

This paper examines the e ect of a change in U.S. trade policy on the domestic investment of U.S. manufacturers. Using a di erence-in-di erences identi cation strategy, we nd that industries more exposed to reductions in import tari uncertainty exhibit relative declines in investment after the change in trade policy. Within industries, we nd that this relationship is concentrated among establis...

The consensus view is that capital controls can effectively lengthen the maturity composition of capital inflows and increase the independence of monetary policy but are not generally effective at reducing net inflows and influencing the real exchange rate. This paper presents empirical evidence that although capital controls may not directly affect the long-run equilibrium level of the real ex...

Available online 23 July 2010 We investigate the effectiveness of capital controls in insulating economies from currency crises, focusing in particular on both direct and indirect effects of capital controls and how these relationships may have changed over time in response to global financial liberalization and the greater mobility of international capital. We predict the likelihood of currenc...

Most models of aggregate economic activity, like the standard neoclassical growth model, ignore the fact that equipment and structures are maintained and repaired. Once physical capital is purchased in these models, there are typically no more decisions made regarding its use. The theme of this article is that there is evidence to suggest that incorporating expenditures on the maintenance and r...