We test the rational economic model of marginal deterrence of law enforcement - i.e., the need for graduating the penalty to the severity of the crime. We combine individual-level data on sentence length for a representative sample of US inmates with proxies for maximum punishment and monitoring...

We study the equilibrium determinants of firm-level heterogeneity in a model in which firms can affect the variance of their productivity draws at the entry stage and explore the implications in closed and open economy. By allowing firms to choose the size of their investment in innovation...

This paper investigates the determinants of comparative advantage in Artificial Intelligence (AI)-intensive industries using a comprehensive dataset of US imports from 68 countries across 79 manufacturing and service industries over the period 1999–2019. Using a novel measure of AI intensity...