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,...

This paper studies the impact of AI on productivity and inequality by focusing on the introduction of AlphaFold2. This AI algorithm can accurately predict protein structures, which were traditionally characterized by structural biologists through experiments. To capture the impact of AI on...

Transaction-level quantity discounts are a pervasive feature of US trade, shaping both price variation and tariff incidence. Using administrative microdata, we show that these discounts reflect transaction-level scale economies rather than market power. Accounting for these micro-level economies...

I examine whether trade can improve the impact of population growth on natural resources (NR) and welfare over time. Under autarky, population growth results in NR and welfare collapse over time, irrespective of the value of the returns to scale in the manufacturing sector, ϕ. Under trade, NR...

I examine whether trade can improve the impact of population growth on natural resources (NR) and welfare over time. Under autarky, population growth results in NR and welfare collapse over time, irrespective of the value of the returns to scale in the manufacturing sector, ϕ. Under trade, NR...

This paper develops a dynamic model in which the productivity of joint research governs strategic investment timing in innovation races. Departing from the standard assumption that discovery rates scale proportionally with the number of active firms, we allow research to exhibit decreasing or...

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,...

The bio-based industry sector is a vital part of the bioeconomy. It can deliver sustainable alternatives to fossil-based products, fostering industrial competitiveness and sustainable economic growth for the EU. The EU's bio-based industry has strong fundamentals but faces challenges when it...

This paper investigates how Artificial Intelligence (AI) goes beyond traditional technological roles to drive transformation across industries, organisations, and society. By analysing 2188 academic papers from the arXiv platform (from 2018 until 2025), the study highlights the unexpectedly...

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,...

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...

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...

I examine whether trade can improve the impact of population growth on natural resources (NR) and welfare over time. Under autarky, population growth results in NR and welfare collapse over time for any value of the returns to scale in the manufacturing sector, 𝜙. Under trade, NR and welfare...

I examine the impact of population growth and endogenous migration on renewable natural resources (NR) and welfare in a general equilibrium model with two sectors - a commodity and a manufacturing sector, and with two inputs - labor and NR. Under population growth and no migration, a country's...

This paper analyzes how the U.S.-China trade war affected Korean industries and identifies the industry characteristics that determined which industries gained or lost. I show that heterogeneity in responses is closely linked to capital intensity and export intensity, highlighting the role of...

Beer production plays an important role in global beverage consumption, with the Czech Republic leading in beer consumption per capita. Despite several international studies, limited research has examined the environmental footprint of Czech breweries and malt houses. This study addresses this...

Based on the conviction that path dependence is a core theoretical element of political economy in general and institutional and evolutionary economics in particular, this short paper explains the theory of path dependence and clarifies its relation to concepts such as positive feedback or...

Scaling the Industrial Transition: Hard-to-Abate Sectors and Net-Zero Progress in 2025 provides an assessment of progress across eight heavy industrial and transport sectors – aviation, shipping, trucking, steel, cement, aluminium, primary chemicals, and oil and gas – which together account...

This paper revisits the n-player rent-seeking contest with homogeneous valuations and increasing returns. Our main result says that, for any m ∈ {2, . . . , n − 1}, there are threshold values 1 R∗(m) R∗ (m) ≤ 2 for the Tullock parameter R such that a pure strategy equilibrium with m...