Using global shocks as a laboratory to study executive pay

It is often claimed that executives reap rewards from favourable market tailwinds they did nothing to create. This column uses two decades of Danish data

Productivity, firm size, and why distortions hurt developing economies

In many developing countries, productive firms remain too small, while less productive firms are too large. Such misallocation contributes to losses in aggregate productivity. This

The ripple beyond borders: Indirect effects of US export controls on Japanese firms

As part of the ongoing US-China trade war, since 2020 the US has restricted the exports of cutting-edge semiconductors from third countries to Huawei. This

Productivity in the export sector: Evidence from Dutch supplier networks

It is well established that exporters tend to be some of the most productive firms. But in today’s world, exporters typically rely strongly on other