Schmidt and von Wangenheim develop a dynamic model of organizational change in which workers have reference-dependent preferences — specifically loss aversion and social comparisons — to explain …
Online FirstReview of Economic StudiesOnline 21 May 2026
This paper estimates the causal effect of technology and knowledge transfers on early industrial development using the Sino-Soviet Alliance of the 1950s as a natural experiment. Between 1950 and 1957, …
PublishedClassicJournal of International EconomicsPublished Sep 2017
Brazil's IOF tax on foreign portfolio inflows was announced overnight and without warning, which makes it readable in stock prices. Two-day cumulative abnormal returns for listed Brazilian firms fall …