The Experts below are selected from a list of 4417095 Experts worldwide ranked by ideXlab platform
Tobias Stucki - One of the best experts on this subject based on the ideXlab platform.
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which firms benefit from investments in green energy technologies the effect of energy costs
Research Policy, 2019Co-Authors: Tobias StuckiAbstract:Abstract Firms will invest in green energy technologies only if these investments have an economic pay-off. Based on unique Firm-Level Data from Austria, Germany, and Switzerland, we find that the marginal effect of investments in green energy technologies on productivity is positive only for the 19% of firms with the highest energy costs. These results have major implications for companies and policy makers regarding the design of green energy policies and incentives.
Andrea Morrison - One of the best experts on this subject based on the ideXlab platform.
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innovation and the geographical and organisational dimensions of outsourcing evidence from italian firm level Data
Structural Change and Economic Dynamics, 2009Co-Authors: Lucia Cusmano, Maria Luisa Mancusi, Andrea MorrisonAbstract:Abstract The paper investigates the diversified patterns of outsourcing in the Lombardy region and relates them to the probability of introducing product and process innovation. Based on a large Firm-Level survey, we show that outsourcing processes are strongly regionally embedded and that offshoring is still a limited phenomenon. Outsourcing strategies are shown to be positively related to firms’ innovation. In particular, the outsourcing of service activities is mostly related to product innovation, thus suggesting that firms successfully pursue core strengthening strategies. Our econometric estimates show that both geographical and organisational proximity matter. Indeed, the positive association of services with innovation is strongly related to their regional dimension, which points towards the importance of local user–producer relationships. When outsourcing crosses national borders, keeping the outsourced activities within extended organisational boundaries (i.e. within the group or network of affiliates) appears relevant, particularly with reference to R&D activities.
Oskar Nordström Skans - One of the best experts on this subject based on the ideXlab platform.
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Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost.
American Economic Review, 2012Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:Using matched Data on product-level prices and the producing firm's unit labor cost, we find a moderate pass-through of current idiosyncratic marginal-cost changes. Also, the response does not vary across firms facing very different idiosyncratic shock variances, but identical aggregate conditions. These results do not fit the predictions of Mackowiak and Wiederholt (2009). Neither do firms react strongly to predictable marginal-cost changes, as expected from Mankiw and Reis (2002). We find that firms consider both current and expected future marginal cost when setting prices. This points toward impediments to continuous price adjustments as a key driver of monetary non-neutrality.
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evaluating microfoundations for aggregate price rigidities evidence from matched firm level Data on product prices and unit labor cost
The American Economic Review, 2012Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:A number of competing business cycle models have recently emerged, all of which can explain why nominal shocks have real effects.1 Although sharing a large number of common features, a key difference between these models lies in the assumptions of how firms set prices and process information. Yet, there exists very little direct micro evidence on the credibility of these assumptions. This paper uses detailed Data on product prices and unit labor cost merged at the firm level to evaluate competing sets of assumptions regarding firms' price-setting behavior. Thereby, we provide firsthand evidence on the empirical relevance of the microfoundations of different dynamic stochastic general equilibrium (DSGE) models.
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evaluating microfoundations for aggregate price rigidities evidence from matched firm level Data on product prices and unit labor cost
2009Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:Using Data on product-level prices matched to the producing firm's unit labour cost, we reject the hypothesis of a full and immediate pass-through of marginal cost. Since we focus on idiosyncratic variation, this does not fit the predictions of the Mackowiak and Wiederholt (2009) version of the Rational Inattention Model. Neither do we find that firms react strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We find that, in line with Staggered Contracts models, firms consider both the current and future expected marginal cost when setting prices with a sum of coefficients not significantly different from unity. JEL Classification: D8, E3, L1
Sergio Puente - One of the best experts on this subject based on the ideXlab platform.
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what makes a high growth firm a dynamic probit analysis using spanish firm level Data
Small Business Economics, 2012Co-Authors: Paloma Lopezgarcia, Sergio PuenteAbstract:It is well established that a small number of firms, known as fast-growth firms or Gazelles, create most new jobs. Despite the importance of this topic from a policy point of view, most studies are descriptive and explore a limited number of characteristics of fast-growth firms. The existence of some correlation between two or more of the determinants of fast growth could yield, however, spurious results. To avoid that problem, this paper performs a multivariate analysis of the determinants of fast growth using a panel of Spanish firms. The variables explored include sector of activity, region and newness of the firm as well as access to external finance and firms’ human resource practices. We control for the presence of unobserved time-invariant, firm-specific heterogeneity as well as for the possible existence of state dependence. We find that past extreme growth episodes increase the probability of current fast growth, which is in contrast to previous findings on the topic. We also find that human resource practices, such as employing qualified personnel or the mix of contracts offered, are important determinants of fast growth. Lastly, newness and access to credit are found to be important to explain firm growth, but they are not significant determinants of fast or extreme employment growth, thereby reflecting the existence of non-linearities in the growth process of firms.
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what makes a high growth firm a probit analysis using spanish firm level Data
Social Science Research Network, 2009Co-Authors: Paloma Lopezgarcia, Sergio PuenteAbstract:Many studies have established that a small number of firms, known as fast-growth firms or Gazelles, create most of the new jobs. In spite of the importance of this topic from a policy-point of view, most of those studies are descriptive and limited to a comparison of the characteristics of the high-growth group with respect to a control group of firms. This paper, on the other hand, performs a multivariate analysis of the determinants of the fast growth of Spanish firms controlling for the possible endogeneity of some variables. We use for that purpose a Firm-Level Database with information for about 200,000 Spanish firms per year between 1996 and 2003. We find that being a start-up increases the probability of fast growth by more than 30 percentage points, conditioned on having survived over the period. Firms with initial higher relative wages and debt ratio, up to a certain point, also experience higher chances of fast growth. Hence, as it was established elsewhere, better access to finance and to human capital are key to increase the number and growth of Gazelles. We also find that high-growth firm sustain their expansion with relatively more debt and fixed-term contracts than the rest of the firms in the sample.
Mikael Carlsson - One of the best experts on this subject based on the ideXlab platform.
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Evaluating Microfoundations for Aggregate Price Rigidities: Evidence from Matched Firm-Level Data on Product Prices and Unit Labor Cost.
American Economic Review, 2012Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:Using matched Data on product-level prices and the producing firm's unit labor cost, we find a moderate pass-through of current idiosyncratic marginal-cost changes. Also, the response does not vary across firms facing very different idiosyncratic shock variances, but identical aggregate conditions. These results do not fit the predictions of Mackowiak and Wiederholt (2009). Neither do firms react strongly to predictable marginal-cost changes, as expected from Mankiw and Reis (2002). We find that firms consider both current and expected future marginal cost when setting prices. This points toward impediments to continuous price adjustments as a key driver of monetary non-neutrality.
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evaluating microfoundations for aggregate price rigidities evidence from matched firm level Data on product prices and unit labor cost
The American Economic Review, 2012Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:A number of competing business cycle models have recently emerged, all of which can explain why nominal shocks have real effects.1 Although sharing a large number of common features, a key difference between these models lies in the assumptions of how firms set prices and process information. Yet, there exists very little direct micro evidence on the credibility of these assumptions. This paper uses detailed Data on product prices and unit labor cost merged at the firm level to evaluate competing sets of assumptions regarding firms' price-setting behavior. Thereby, we provide firsthand evidence on the empirical relevance of the microfoundations of different dynamic stochastic general equilibrium (DSGE) models.
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evaluating microfoundations for aggregate price rigidities evidence from matched firm level Data on product prices and unit labor cost
2009Co-Authors: Mikael Carlsson, Oskar Nordström SkansAbstract:Using Data on product-level prices matched to the producing firm's unit labour cost, we reject the hypothesis of a full and immediate pass-through of marginal cost. Since we focus on idiosyncratic variation, this does not fit the predictions of the Mackowiak and Wiederholt (2009) version of the Rational Inattention Model. Neither do we find that firms react strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We find that, in line with Staggered Contracts models, firms consider both the current and future expected marginal cost when setting prices with a sum of coefficients not significantly different from unity. JEL Classification: D8, E3, L1
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testing theories of job creation does supply create its own demand
2006Co-Authors: Mikael Carlsson, Stefan Eriksson, Nils GottfriesAbstract:Although search-matching theory has come to dominate labor economics in recent years, few attempts have been made to compare the empirical relevance of search-matching theory to efficiency wage and bargaining theories, where employment is determined by labor demand. In this paper we formulate an empirical equation for net job creation, which encompasses search-matching theory and a standard labor demand model. Estimation on Firm-Level Data yields support for the labor demand model, wages and product demand affect job creation, but we find no evidence that unemployed workers contribute to job creation, as predicted by search-matching theory.
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testing theories of job creation does supply create its own demand
2006Co-Authors: Mikael Carlsson, Stefan Eriksson, Nils GottfriesAbstract:How well do alternative labor market theories explain variations in net job creation? According to search-matching theory, job creation in a firm should depend on the availability of workers (unemployment) and on the number of job openings in other firms (congestion). According to efficiency wage and bargaining theory, wages are set above the market clearing level and employment is determined by labor demand. To compare models, we estimate an encompassing equation for net job creation on Firm-Level Data. The results support demand-oriented theories of job creation, whereas we find no evidence in favor of the search-matching theory.
