We document large and persistent differences in the acquisitiveness of firms in the U.S. based on the location of their headquarters. We hypothesize and find evidence that local peer effects in M&A activity contribute to such persistence. Specifically, the acquisitiveness of non-dominant...

The paper examines the foreign direct investment (FDI) spillover effects in developing countries and investigates the importance of the absorptive capacity of a firm and a country in realizing and facilitating FDI spillover. It uses data obtained from the World Bank's Enterprise Surveys for 107...

We examine the foreign direct investment (FDI) spillover effects in developing countries and investigate the importance of the absorptive capacity of a firm and a country in realizing and facilitating FDI spillover. We use data obtained from the World Bank’s Enterprise Surveys for 107...

The literature on the wage curve provides considerable evidence in favor of a negative relationship between unemployment and wages. It is thus often seen as a refutation of the Harris-Todaro model, who point to a positive relationship. This paper shows that both strands of literature are special...

This paper studies urban sustainability from the perspective ofexternalities. We develop a general spatialequilibrium model of a monocentric city, in which two types ofexternalities occur. On the one hand, pollution inthe industrial centre leads to a spatially differentiateddeterioration of the...

The literature on the wage curve provides considerable evidence in favor of a negative relationship between unemployment and wages. It is thus often seen as a refutation of the Harris-Todaro model, who point to a positive relationship. This paper shows that both strands of literature are special...