This paper characterizes the short- and long-run Cournot equilibrium with heterogeneous firms and stochastic technological change. In our model, firms have different technologies with heterogeneous fixed and variable costs and various degrees of markups. In a framework with homogeneous firms,...

We revisit the size-volatility relationship in firm growth using administrative data on French manufacturing firms. Departing from the log-log linear decay commonly reported by other studies, we find a two-regime pattern: volatility declines steeply with size for small firms, but flattens for...

We estimate measures of economies of scale and scope for a sample of 48 Canadian universities that produce multiple outputs. Estimates have not been previously attempted for Canadian universities to our knowledge. Declining financial support from provincial governments makes finding cost...

Government debt can potentially enhance high-quality economic development, yet its effects and risks diverge substantially under the interplay of scale economies and diseconomies. Against the backdrop of the 20th CPC Central Committee's Third Plenary Session, which emphasized coordinated...

Bank market power has far-reaching effects as, among other things, it affects the price of credit. Even though it is well-known that banks are spatially interdependent due to rival banks having branches in the same geographical areas, the literature on bank market power overlooks this. To...

Economists routinely use survey measures of, for example, risk preferences, trust, political attitudes, or wellbeing. The literature generally treats numerical response categories as if they represent equal psychological intervals. We provide the first systematic test of this assumption,...

This paper delves into geographical agglomeration patterns of economic activities focusing on the connection between these agglomeration tendencies and sectoral patterns of innovative activities. Within a broad evolutionary perspective, we refine upon incumbent statistical models, trying to...

Background Development of organic agricultural entrepreneurship often requires "scaling up" from a multitude of individual, largely disconnected micro organic enterprises with haphazard achievements, toward more integrated units, operating more systematically and allowing for replication of...

We consider firms' choices between a clean technology that benefits, and a dirty technology that harms, the environment. Green firms are more suited to the clean, and brown firms are more suited to the dirty technology. We use a model derived from complexity theory that takes account of true...

China makes extensive use of subsidies in order to take a leading role on the global markets in the green technology sectors of electric vehicles, wind turbines and railway rolling stock. According to DiPippo et al. (2022) and recent OECD studies, the industrial subsidies in China are at least...

In performance analysis with tools such as data envelopment analysis, calculations of scale properties of the frontier points are studied using both qualitative and quantitative approaches. When the production process is a bit complicated, the calculation needs to be modifed. Most existing...

Using a new administrative dataset, we provide fresh micro-level evidence on firms’ returns to scale (RTS). We employ a new administrative database, iBACH, which contains extensive high-quality annual balance sheet, financial, and demographic information on more than two million non-financial...

Using a 2007-2014 panel of Austrian crop farms, we analyze the effect of multiple dimensions of land fragmentation on farms' production efficiency and risk performance. We use Data Envelopment Analysis (DEA), a non-parametric linear programming approach, to estimate efficiencies. Technical...