This paper provides the first systematic and comprehensive empirical study of management and strategy consulting. We unveil the workings of this opaque industry by drawing on universal administrative business-to-business transaction data based on value-added tax links from Belgium (2002-2023)....

This paper uses a general equilibrium framework to examine the effects of temperature on firm-level demand, productivity, and input allocation efficiency, deriving an aggregate damage function for climate change. Using data from Italian firms and detailed climate data, it uncovers a sizable...

This paper investigated the technical and allocative efficiency of commercial banks in Ethiopia. The analysis was based on unbalanced panel data of 19 banks over the period of 1990-2022. The study has applied shadow pricing approach to estimate and decompose the overall cost inefficiency into...

This paper investigates the positive international spillover effects of non-discriminatory product regulations, such as quality standards. We incorporate regulations into a multi-country general equilibrium framework with firm heterogeneity and variable markups. We model regulations as a...

How costly is the misallocation of production that we might expect to result from distortions such as market power, incomplete contracts, taxes, regulations, or corruption? This paper develops new tools for the study of misallocation that place minimal assumptions on firms' underlying...

The coronavirus disease (COVID-19) pandemic placed health-care systems around the world under great stress. The sharp increase in demand for health care highlighted the importance of efficient health spending. The negative impact of the pandemic on global economic growth further strengthened the...

This paper argues that regional variation in the efficiency of labor allocation among German manufacturing plants plays a critical role in explaining regional disparities in productivity. In fact, we show that over 50% of the East-West productivity gap is associated with a less efficient labor...

La eficiencia técnica de PEMEX representa un aspecto esencial en el entendimiento de su capacidad para potenciar la rentabilidad petrolera y, en consecuencia, incrementar la calidad de vida de un gran número de mexicanos. A pesar de los significativos cambios derivados de la Reforma...

Developing low-carbon and efficient power systems is critical for energy security in the global warming context. We address this issue by focusing on the productivity impact of a decarbonization policy in China's thermal power sector-namely, the "Constructing Large Units and Restricting Small...

We consider a package assignment problem with money, in which a set M of objects is allocated to agents. Each agent has preferences that are not necessarily quasi-linear. The admissible set of object allocations is chosen by the planner to pursue specific objectives in conjunction with the rule....

We study the causal effect of reducing distance-related frictions with headquarters on branch outcomes in multi-unit firms in Brazil. Exploiting the introduction of new airline routes, we compare branches that gain a direct flight to their headquarters with otherwise similar branches in the same...

We study the problem of assigning indivisible objects to agents where each is to receive at most one. To ensure fairness in the absence of monetary transfers, we consider random assignments. Random Priority, also known as Random Serial Dictatorship, is characterized by equal-treatment-of-equals,...

PEMEX's technical efficiency represents an essential aspect in understanding its ability to enhance oil profitability and, consequently, increase the quality of life of a large number of Mexicans. Despite the significant changes derived from the 2013 Energy Reform and the notable investment plan...

We develop a methodology to estimate the cost of capital using credit registry microdata, and apply it to study capital allocation efficiency in the United States. Our measure incorporates the contractual interest rate, expected default probability, recovery rate, and expectations of future...