Novel co-inventors introduce new products or services with the potential for large returns, but do so at high costs and with uncertain outcomes. Similar firms investing in incremental co-invention ...

This paper tests the long-standing hypothesis that China's 1958 Four Pests Campaign, which exterminated sparrows despite scientists’ warnings about their pest-control role, exacerbated the Great ...

Our findings indicate that self-image is at most 19.3% as important as social-image. Additionally, we document substantial heterogeneity in the strength of these preferences across individuals and ...

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The combining of horizontal drilling and hydrofracturing unleashed a boom in oil and natural gas production in the US. This technological shift interacts with local geology to create an exogenous ...

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This paper provides both a conceptual framework for decomposing a country's gross exports into value-added components by source and a new bilateral database on value-added trade. Our parsimonious ...

Between the early 1990s and 2015 the relationship between mental despair and age was hump-shaped in the United States: it rose to middle-age, then declined later in life. That relationship has now ...

Data centers are among the fastest-growing electricity consumers, raising concerns about their impact on grid operations and decarbonization goals. Their temporal flexibility—the ability to shift ...

This paper presents micro-empirical evidence on the effects of wage-setting decentralization. Our setting is Italy, where employers are required to comply with occupation- and industry-specific wage ...

We examine positive and normative questions that arise with the joint use of carbon taxes and green subsidies in an open economy. Moving from autarky to free trade induces countries to introduce green ...

Renewable electricity generation technology costs have fallen dramatically, investment has grown rapidly, and renewables are now a pillar of climate and decarbonization policy. Part of the credit for ...