The elasticity of substitution between home and foreign goods is one of the most important parameters in international economics. The international macro literature, which is primarily concerned with short-run business cycle fluctuations, assigns a low value to this parameter. The international...

This paper develops and estimates a model of indivisibilities in shipping and economies of scale in consolidation. It uses highly detailed data on imports for which it is possible to observe the contents of individual containers. In the model, a firm is able to adapt to indivisibility...

Nearly half of all transactions in the $5 trillion market for manufactured goods in the United States were intermediated by wholesalers in 2012, up from 32 percent in 1992. Seventy percent of this increase is due to the growth of "superstar" firms - the largest one percent of wholesalers....

Introduction / Josh Lerner and Antoinette Schoar -- International perspectives on the nature of entrepreneurship -- Explaining international differences in entrepreneurship: the role of individual characteristics and regulatory constraints / Silvia Ardagna and Annamaria Lusardi -- Who are the...