This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model endogenous heterogeneity that incorporates decisions calibrate it to match several empirical regularities across size. Our provides microfoundations empirically observed negative relationship between both R&D intensity In calibrated model, about ...

A recently reported solution for stationary stability of a thermosolutal system with Soret diffusion is re-derived and examined using a symbolic computational package. Symbolic computational languages are well suited for such an analysis and facilitate a pragmatic approach that is adaptable to similar problems. Linearization of the equations, normal mode analysis, and extraction of the final so...

We investigate the effects of consumers’ environmental concerns and market competition on firms’ decisions to innovate in “clean” technologies. Agents care about their consumption footprint; firms pursue greener products soften price competition. Acting as complements, these forces determine R&D, pollution, welfare. test theory using panel data patents by 7,060 automobile sector 25 countrie...

To finance unemployment insurance, states raise payroll tax rates on employers who engage in layoffs. Tax are, therefore, highest for firms after downturns, potentially hampering labor-market recovery. Using full-population, administrative records from Florida, I estimate the effect of these increases firm behavior leveraging a regression kink design schedule. hikes reduce hiring and employment...

We assess whether imperfect knowledge of labor regulation hinders job creation at small and medium-sized firms. partner with a law expert organization that provides information about via newsletters access to specialized website. randomly assign 1,800 firms get this service for 21-week period. Six months later, the average employment level treatment was 12 percent higher than control The interv...

We examine how machine learning (ML) predictions of high-growth enterprises (HGEs) help a budget-constrained venture capitalist source investments for fixed size portfolio. Applying design science approach, we predict HGEs 3 years ahead and focus on decision (not statistical) errors, using an accuracy measure relevant to the decision-making context. find that when ML procedure adheres budget co...

This paper investigates the effect of Internet technology on how firms access export markets directly or via intermediaries. Empirical evidence suggests that technology diffusion is geographically localised, with knowledge spillovers from neighbouring adopters decaying quickly over short distances. To address the potential endogeneity of Internet adoption, I construct an instrument that capture...

This study shows that R&D cooperations can be used as an instrument to coordinate drug development portfolios among participating firms, which has crucial implications on the number of drugs offered on the market. Our study puts special attention to the fact that R&D cooperations, formed at different stages throughout the drug development process, have different impacts on the technology and pr...

Who Starts a Business and Who is Self-Employed in Germany Based on representative data, the German Micro-Census, we provide an overview of the development of self-employment and entrepreneurship in Germany between 1991 and 2010, the first two decades after reunification. We investigate the socioeconomic background of these individuals, their education, previous employment status, and their inco...

We derive new temperature dependent Sellmeier equations for the extra-ordinary and ordinary refractive indices of 0.5% MgO-doped stoichiometric LiTaO3 crystal. The equations are based on quasi phase-matched frequency conversion measurements, as well as on interferometric measurements of the thermal expansion and thermal dispersion. These equations fit experimental data over wide spectral ranges...