imperfectly correlated changes in consumers' preferences. We show that optimal regulation requires an appropriate combination of …

all, in a sense to be made precise. -- Asymmetric Information ; Learning by Doing ; Regulation …

buffer stock for liquidity of financially constrained firms. Although the reinvestment of multinationals’ earning is …

depend on how changes in ownership affect markups versus efficiency. We find that owner fixed effects contribute very little … to the performance of brands. On average, foreign ownership tends to raise costs and lower appeal. Using the estimated … model, we simulate the consequences of counter-factual national merger regulation. The US beer price index would have been 4 …