This paper examines the dynamic relationship between firm leverage and risktaking. We embed the traditional agency problem of asset substitution within a multi-period model, revealing a U-shaped relationship between leverage and risktaking, evident in data from both the U.S. and Europe. Firms...

We explore the female employment-fertility relationship for a wide period, 2004-2019 in Italy. We adopt a dynamic approach when modelling both employment and fertility choices and allow for possible feedback effects from employment to future fertility decision. We also consider different...

This paper studies the dynamics of importer–exporter connections when importers source inputs from multiple exporters. I first develop a trade model in which heterogeneous importers invest in expanding the set of potential exporters they know and from which they can source. The model delivers...