measures investment in customer capital using sales and marketing expense from income statements, information on salaries paid … to workers in sales and marketing, and text from annual 10-K SEC filings describing firms' sales and marketing strategies … sales and marketing strategies. Industries focused on platform business models, online sales, and the production of high …

This paper compares results from the narrative approach of Romer and Romer (1989) to those from the structural approach … policy matters and that the effects build slowly following a monetary policy shock. The narrative approach, however, leads to …

The narrative approach to macroeconomic identification uses qualitative sources, such as newspapers or government … rigorous narrative analysis using fresh research on the impact of monetary policy as the focal application. We read the …

. The salience of the "defund the police" narrative led to significant overreactions in both financial predictions and real …

In a search model, prospects encounter salespeople who can try to persuade them. Persuasive messages can increase the … utility of buying or increase the cost of not buying. The latter reduces welfare. Equilibria where only some salespeople make … a persuasive effort often exist. Salespeople vary in their empathy, and choose their jobs accordingly. When all …