The aim of this paper is to provide an interpretation of the so-called profits-investments puzzle, in the theoretical framework of the monetary theory of production (MTP) and with reference to ‘radical’ Institutional issues. In methodological terms, the exercise provided here is designed to...

We develop a disequilibrium macrodynamic model in which two types of labor (regular and non-regular employment) are incorporated. We analyze how the expansion of the wage gap between regular and non-regular employment affects the economy. If the steady state equilibrium exhibits the wage-led...

Empirical investigation of business failures has considered the effects of macroeconomic conditions and financial healthiness in isolation. Using a panel of five Asian economies – Indonesia, Korea, Malaysia, Singapore and Thailand – over the period 1995–2007 we analyse the link between...

We study the relationship between offshoring and job stability in Italy in the period 1995–2001 by using an administrative dataset on manufacturing workers. We find that the international fragmentation of production negatively affects job stability. Service offshoring and material purchases...

We use a factor model to detect the presence of economy-wide underlying forces leading firm growth. By using quarterly firm level data on 660 US firms for 20 years, we find evidence of a unique common factor explaining approximately one fifth of the variance of firm growth rates. We investigate...

The aim of this paper is to examine whether firms that innovate, experience higher rates of growth than firms that do not. Our analysis is based on different models and econometric methodologies applied to several waves the Community Innovation Surveys (CIS) for French industry, during...

This paper explores the performance of current statistical classification systems in classifying firms and, in particular, their ability to distinguish between firms that provide services and firms that provide manufacturing. We find that a large share of firms, almost 20%, are not classified as...