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Working Paper
Regulatory distortion of competition
Working Paper
Regulation and endogenous contestability
Journal Article
Airline deregulation
Working Paper
R&D Subsidy and Import Substitution: Growing in the Shadow of Protection
I study the effect of an innovation subsidy on the growth of firms in a developing country. Using administrative microdata for Brazil and difference-in-differences, I find that innovation subsidies drive firm growth by facilitating firm entry into high-tariff markets with domestically produced versions of foreign goods. After receiving an innovation subsidy, firms issue more patents, expand their workforce, and diversify their product line. However, these patents receive minimal citations, while also heavily citing foreign patents. Firms increase imports of foreign inputs and expand their ...
Journal Article
An economic war
Working Paper
Total factor productivity and electric utilities regulation
An examination of the components of total factor productivity, including its measurement and the usefulness of TFP indicators to regulators.