This article investigates whether and how changes in the world oil price affect the Canada/U.S. real exchange rate. We applied vector autoregression and vector error correction models for the real exchange rate, world oil price, monetary differential, government spending, and productivity...

Using NBER patent data and hedge fund holdings in U.S. firms during 1998-2006, we study the effect of hedge fund ownership on corporate innovation. We find that hedge fund ownership promotes both patent quantity and quality, even after controlling for endogeneity. This stimulating effect is more...

We compare aggregate emission intensity, quantity, and price targets adopted at the national level but implemented cost effectively at the firm level. We obtain simple ranking conditions that depend on the slope ratio of marginal emission damage and marginal abatement cost curves, and threshold...