We study the impact of FDI on the productivity of host-country firms. FDI has positive spillovers only when foreign and domestic firms use similar technologies. Channeling FDI to sectors where firms share similar technology would significantly increase productivity spillovers from FDI. We show...

We develop a simple theoretical framework for thinking about how geographic frictions, and in particular travel costs, shape scientists' collaboration decisions and the types of projects that are developed locally versus over distance. We then take advantage of a quasi-experiment — the...

We study the extent to which eminent scientists shape the vitality of their areas of scientific inquiry by examining entry rates into the subfields of 452 academic life scientists who pass away prematurely. Consistent with previous research, the flow of articles by collaborators into affected...

We revisit the relationship between foreign investment and productivity of acquired firms. First, we construct a panel firm-level dataset for eight advanced European countries covering domestic and foreign acquisitions together with detailed balance sheet information for the years 1999{2012....

We evaluate manufacturing firms' responses to changes in the real exchange rate (RER) using detailed firm-level data for a large set of countries for the period 2001-2010. We uncover the following stylized facts about regional variation of manufacturing firms' integration into global value...

This paper studies the link between volatility, labor market flexibility, and international trade. International differences in labor market regulations affect how firms can adjust to idiosyncratic shocks. These institutional differences interact with sector specific differences in volatility...