Empirical studies of firms within industries consistently report substantial heterogeneity in measures of performance such as size and productivity. This paper explores the consequences of joint heter
Traditional U.S. industries with higher firm-specific stock return and fundamentals performance heterogeneity use information technology (IT) more intensively and post faster productivity growth in th
This paper examines the response of industries and firms to changes in trade costs. Several new firm-level models of international trade with heterogeneous firms predict that industry productivity wil
Sugita, Y., Teshima, K., and Seira, E. (2023). “Assortative Matching of Exporters and Importers.” Review of Economics and Statistics, 105:6, 1544–1561.
