Firm’s size tipically changes through discrete leaps over time.The model of firm’s growth discussed here entails some nonstandard consequences. Firstly, profitability is not a continuous function of size, but exhibits a number of peaks. Secondly, investment increases in those firms where...

How and why do exporters adjust their portfolios of destination countries in response to exchange rate movements? How do such geographic export diversification choices affect firm performance? Drawing on the corporate strategy and international business literature, we argue that firms enjoying...

We examine the determinants of international commercial real estate investment using a unique set of panel data series for 47 countries worldwide, covering the period from 2000 to 2009. We explore how different socio-economic, demographic and institutional characteristics affect commercial real...

This paper tests the consistency between the responsibility and the yardstick competition hypotheses. If no evidence is found that voters reelect mayors comparing their performance with those of neighboring jurisdictions, strategic interactions among municipalities cannot be properly interpreted...

Macroeconomic imbalances in the EMU are at the heart of the current crisis. A widely popular explanation for the high current account deficits in the Southern European countries is that they lack a large, competitive and export-oriented industrial sector. The paper tests the hypothesis that...

Planted forests are increasingly recognised for the provision of habitats for species threatened with extinction. Despite this development, a limited number of empirical studies have been undertaken to estimate the economic value of this ecosystem service. New Zealand's planted forests provide...