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Penalized sieve estimation of zero-inefficiency stochastic frontiers (replica...
Stochastic frontier models for cross-sectional data typically assume that the one-sided distribution of firm-level inefficiency is continuous. However, it may be reasonable to... -
Digitalization, Industry Concentration, and Productivity in Germany
This paper investigates the links of digitalization and industry concentration with labor productivity at the sectoral level in Germany. Combining data for digitalization and... -
The fall and rise of market power in Europe
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Credit allocation in heterogeneous banking systems
World banking systems are almost invariably populated by relatively diverse financial institutions. This paper studies the operation of credit markets where heterogeneous banks...
