How do different bankruptcy approaches affect the local economy? Using U.S. Census microdata at the establishment level, we explore the spillover effects of reorganization and liquidation on geographically proximate firms. We exploit the random assignment of bankruptcy judges as a source of...

Using a unique dataset on all major corporate restructuring events in Japan between 1981 and 2010, we examine how bank-led rescue operations in Japan have changed over time. The incidence of restructuring by distressed firms has become less frequent after the 1990s. When firms undergo...

We study the effect of exporting on the organization of production within firms. Using French employer-employee matched data together with data on a firm's exporting activity, we find that firms that enter the export market and expand substantially reorganize by adding layers of management,...

This paper examines whether there are complementarities between investments in ICT, R&D and organizational innovation, and the effects of different investment profiles on total factor productivity growth on Dutch firm-level data. We estimate an integrated model of investment profile adoption and...

New developments in the world economy have triggered research designed to better understand the changes in trade and investment patterns, and the reorganization of production across national borders. Although traditional trade theory has much to offer in explaining parts of this puzzle, other...

Understanding the nature and magnitude of resource reallocation, particularly as it relates to productivity growth, is important both because it affects how we model and interpret aggregate productivity dynamics, and also because market structure and institutions may affect the reallocation's...

In this paper, we use a French matched employer-employee survey, the COI survey, conducted in 1997, to describe the general features of organizational change in manufacturing firms with more than 50 employees. In a first section, we explore the methodological issues associated with the building...

In this paper I focus on two specific hazard areas in the transition from Stage Two to Stage Three of European economic and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear ill-prepared to handle. The transitional hazards are...