In 1994, due to environmental concerns, Germany banned a chemical called 'Azo-dyes', a primary input for the leather and textiles firms in India (a key exporter). Exploiting this as a quasi-natural experiment, we examine the effects of this cross-border regulatory change on labor compensation,...

This paper applies the theory of aspiration adaptation to industrial economics. It is motivated by the question, frequently raised in the context of theoretical and empirical research on industrial innovation, of what triggers a firm's innovative activity. We develop a model of the management's...

We survey the phenomenon of the growth of firms drawing on literature from economics, management, and sociology. We begin with a review of empirical 'stylised facts' before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it difficult...

Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is greater in recessions than in booms. This cyclical property of productivity dispersion is much less pronounced in non-durable manufacturing. In durables, this phenomenon primarily...

This paper develops and analyzes a model of international trade comprising multiproduct firms that can produce a range of product varieties distinguished by quality. First, it analyses the within-firm distribution of product quality and argues that firms’ export decisions are sensitive to...

This paper develops and analyzes a model of international trade comprising multiproduct firms that can produce a range of product varieties distinguished by quality. First, it analyses the within-firm distribution of product quality and argues that firms export decisions are sensitive to their...

Market segmentation characterized by price heterogeneity appears as a failure of classical view of market equilibrium. We suppose that an existence of specific asset pricing determines the wealth level of lenders. In microfinance, we look at the linkages between the welfare of lenders and market...

There is a growing concern that size-contingent regulatory taxes are causing considerable mis-allocation of resources from large efficient firms to small inefficient firms, with significant implications for welfare and aggregate productivity. Using a monopolistic competition framework, I...

I develop a multiproduct nonlinear pricing model where a firm sells both discrete and continuous goods/services to consumers with multidimensional heterogeneity. I derive the optimal selling mechanism and provide primitive conditions under which different bundling strategies arise. Exploiting...

We investigate the impact of product market competition on firms' systematic risk. Using a measure of total product market similarity, we document a strong negative link between market power and market betas. There is a more than threefold increase in the effect during the most recent...