Publications

While the United Nations and NGOs are pushing for global judicialization of economic, social, and cultural rights (ESCRs), little is known of their consequences. We provide evidence of the effects of…

Electricity markets employ different congestion management methods to handle the limited transmission capacity of the power system. This paper compares production efficiency and other aspects of nodal…

Entry by multinational enterprises (MNEs) into emerging markets has increased substantially over the last decades. Many of these MNE entries have taken place in concentrated markets. To capture these…

Building on recent research in social psychology, this paper analyzes the link between the precision of initial cash offers and mergers and acquisition (M&A) outcomes. About one‐half of the offers…

The present study analyzes the nexus among business growth, ownership structure, and local embeddedness—that is, the involvement of economic actors in a geographically bound social structure—in rural…

The past provides some guidance on how to handle the effects of technological change on society and the labour market. The question is how much. During the Industrial Revolution, some skilled workers…

The internationalization of firms has led to boards becoming more international as well. In this study, we investigate the consequences of board internationalization. In particular, by drawing on resea…

Being able to separate temporary global macroeconomic influences – caused by fluctuations in exchange rates, interest rates and inflation – from intrinsic performance – related to a superior product, pro…

The purpose of this study is to test for the effects of trade promotion via the foreign service. The theory of trade with heterogeneous firms predicts that unilateral trade promotion allows mediumsized…

The economics and management literatures pay increasing attention to the technological, competitive, and institutional environment for entrepreneurship. However, less is known about how context influe…

Globalization has increased in recent decades, resulting in structural changes of production and labor demand. This paper examines how the increased global engagement of firms affects the structure of…

A number of researchers have found that imports by pollution heavy industries do not increase in response to tighter pollution policy. We empirically evaluate the impact of an sudden and unexpected in…

Government debt is large in most developed countries, and while budget deficits may reflect short-term attempts to kick-start the economy in times of crisis by means of fiscal stimulus, the longer-ter…

We present an analysis of how refugee immigration affects public-sector finances during the refugees’ first years of stay in Sweden. Two different measures are presented. First, public-sector revenues a…

We study the political effects of mass emigration to the United States in the nineteenth century using data from Sweden. To instrument for total emigration over several decades, we exploit severe loca…

Digitalization of manufacturing is once again on the industry application research agenda and Digital Manufacturing plays a fundamental role in this process. However, there is a lack of commonality in…

Companies are adopting several new technologies that form the pillars of Industry 4.0 production framework, of which Digital Manufacturing (DM) stands out by combining conventional manufacturing techn…

This paper develops a theoretical framework to analyze the link between real‐time and day‐ahead competition in a hydro‐based wholesale electricity market. Predictions of the model are tested on a deta…

We introduce a method to recover homothetic preferences from choice data with minor optimization or measurement errors. Our method allows for a more detailed graphical analysis to reveal subjects’ pre…

Using data on all Swedish startups in the computing sector founded 2007–2015, we find a systematic positive relationship between the propensity of a computing firm to reach customers globally via digi…

Forgeries of coins can either be contemporary or modern. Already in the Middle Ages, it was well known that bracteates were considerably more difficult to counterfeit than two-faced coins. The main re…

International investment agreements (“IIAs”) are State-to-State treaties that aim to promote investment, especially foreign direct investment (“FDI”), by protecting foreign investors against host-coun…

In this paper we explore the micro-level determinants of conformity. Members of the social networking service Facebook express positive support to content on the website by clicking a Like button. We…

Transmission constraints limit competition and arbitrageurs’ possibilities of exploiting price differences between commodities in neighbouring markets. We analyze radial transmission-constrained netwo…

We analyze how market design influences bidding in multiunit procurement auctions where suppliers have asymmetric information about production costs. Our analysis is particularly relevant to wholesale…

In Sweden, as in many other countries, marginal groups tend to be overrepresented in non-standard employment. A decomposition of the employment rate of full-time workers on permanent contracts reveals…

Social trust is linked to many desirable economic and social outcomes. Using new data from a representative sample of 2668 Swedish expatriates, we examine the robustness of high social trust in countr…

In 2007–09, the Swedish employer-paid payroll tax was cut on a large scale for young workers, substantially reducing labor costs for this group. Using this variation in payroll taxes across ages, we e…

What makes a successful CEO? We combine a near-exhaustive sample of male CEOs from Swedish companies with data on their cognitive and noncognitive ability and height at age 18. CEOs differ from other…

Cities exhibit a rich and complex heterogeneity in people and activities. This poses a sizable challenge for planners when planning new neighbourhoods or the reconstruction of old ones as well as when…

The media often cast foreign private equity firms as villains who gamble with local jobs. We use detailed registry data from Sweden to show that foreign buyouts have not affected workers’ labor market…

There is increasing interest in the drivers of industrial diversification, and how these depend on economic and industry structures. This article contributes to this line of inquiry by analyzing the r…

This paper develops a stylized model of cross-border balancing. We distinguish three degrees of cooperation: autarky, reserves exchange and reserves sharing. The model shows that TSO cooperation reduc…

We analyze how insurance arrangements, labor supply, moral hazard, and outright cheating are affected by social norms. One question is under what conditions norms may improve social welfare. Another i…

This article studies the long-run relationship between the capital share in national income and top personal income shares. Using a newly constructed historical cross-country database on capital share…

States of emergency do not only imply a significant change in the balance of powers between the three branches of government, they are also very frequently declared: between 1985 and 2014, at least 137…

Christmas is a holiday of Christian origin with traditions that emphasize prosocial behavior, including charitable giving, but does it actually make people more altruistic? Responding to this question…

This paper presents new estimates of wealth inequality in Sweden during 2000–2012, linking wealth register data up to 2007 and individually capitalized wealth based on income and property tax register…

How important is regional hierarchy for retailers’ productivity? This paper investigates the determinants of independent retailers’ productivity in Sweden between 2002 and 2008 with respect to market…

The Hayek–Friedman hypothesis states that economic freedom is causally associated with stable democracy. I test a particular element of the hypothesis focusing on press freedom, which is arguably a ne…

Electricity markets are moving through integration around the world. However, our understanding of those markets is still limited. I characterize the Bertrand equilibrium in a discriminatory-price ele…

While entrepreneurship researchers agree that institutions ‘matter’ for entrepreneurship, they also have a rather encompassing understanding of institutions as almost any external factor that influenc…

In this paper, we introduce the special issue on Financial and Institutional Reforms for an Entrepreneurial Society in Europe. There are many reasons for Europe to want to make the transition to a mor…

We consider a network model where individuals exert efforts in two types of activities that are interdependent. These activities can be either substitutes or complements. We provide a full characteriz…

Europe continues to lag behind the USA in venture capital (VC) activity and in the creation of successful startups, and has recently been surpassed by China. This is despite the fact that many Europea…

We develop a product-differentiated model where the product space is a network defined as a set of varieties (nodes) linked by their degrees of substitutability (edges). We also locate consumers into…

This study estimates intergenerational wealth correlations across up to four generations and examines the degree to which the wealth association between parents and children can be explained by inheri…

Complexity negatively impacts the process of continually improving performance management systems (PMSs). The extant PMS literature considers complexity to be a result of the external environment rath…

Who works longer – and why? This paper investigates the characteristics of people that stay longer in the workforce, even beyond the time they are eligible to retire. In our regional analysis, we use…

We study the impact on long and short run criminal behavior from a large scale Swedish reform of vocational upper secondary education, extending programs and adding more general theoretical content. T…

The sorting of high-ability workers is often advanced as one source of spatial disparities in economic outcomes. There are still few papers that analyze when human capital sorting occurs and whom it i…

While previous research examines how institutions matter for general life satisfaction and how specific institutions embodying equal rights for gay people matter for the life satisfaction of gays, we c…

Nine of ten countries currently have emergency provisions written into their constitutions, here simply referred to as emergency constitutions. The nature of these provisions remains poorly understood…

This paper studies the population dynamics of cultural traits in a model of intergenerational cultural transmission with a perfectly-forward looking cultural leader. We show that there exists a thresh…

We consider a uniform-price procurement auction with indivisible units and private independent costs. We …nd an explicit solution for a Bayesian Nash equilibrium, which is unique if demand shocks are…

We provide stylized facts on the existence and dynamics over time of the large firm wage premium for four countries. We examine matched employer-employee micro-data from Brazil, Germany, Sweden, and t…

Welfare effects of entry regulations are theoretically ambiguous in differentiated product markets. We use a dynamic oligopoly model of entry and exit with store‐type differentiation and static price…

Limits on consumer attention give firms incentives to manipulate prospective buyers’ allocation of attention. This paper models such attention manipulation and shows that it limits the ability of discl…

Our model of strategic behavior in sequential markets exhibits a persistent forward price premium. This premium is not susceptible to arbitrage by speculators on the forward market, since purchasers p…

An increasing reliance on variable renewable energy has raised concern about system ability to continuously satisfy electricity demand. This paper examines countries’unilateral incentives to achieve s…

The rise of ICT and the shift toward jobs with more flexibility in working hours and places of work sparked popular debates about potential for a ‘rural renaissance’. A key argument was that there are…

We construct multi-country employer-employee data to examine the consequences of last-in, first-out rules. We identify the effects by comparing worker exit rates between different units of the same fi…

The literature on employee spinoffs has, for a long time, stressed the importance of industry-specific skills and experiences in explaining the success of new firms. We argue that employees also devel…

Persson and Rossin-Slater (2018) find that prenatal exposure to family ruptures affects childhood and adult mental health, as well as infant physical health. We compare children whose relatives die wi…

This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of AD…

We estimate the impact of financial market deregulation on top income shares. Using the novel synthetic control method to investigate the two ‘Big Bangs’ of financial deregulation, the UK in 1986 and…

This paper considers the identification of social interaction effects in the context of multivariate choices. First, we generalize the theoretical social interaction model to allow individuals to make…

The tax laws of most developed countries are debt biased since firms can deduct interest on debt but not on equity. This bias is known to distort investment decisions. However, less is known about how…

Private equity firms (PE firms) have become common owners of established firms in concentrated markets. We show that the threat of a PE acquisition can trigger incumbent mergers in an otherwise mergersta…

Consider a model where workers from the majority and the minority group choose both their residential location (geographical space) and the intensity of their social interactions (social space). We de…

We propose a new method to analyze employment and productivity dynamics in a consistent way. Using Swedish data we find that net jobs were mainly created in young, small firms and productivity gains w…

This article adopts an evolutionary framework to the study of industrial resilience. We present a study on European regions and assess the extent to which the capacity of their economies to develop ne…

This paper proposes a simple framework to model social preferences in a way that explicitly separates economic incentives from social (context) effects and allows for uncertainty also about the latter.…

The association between occupational status and health has been taken to reveal the presence of occupational health inequalities. However, that interpretation assumes no influence of health status in…

This study examines the governance attributes of post-IPO (initial public offering) retained ownership of private equity in business group constituent firms in contrast to their unaffiliated counterpart…

We study whether independent-school competition involves a trade-off between pupil wellbeing and academic performance. To test this hypothesis, we analyse data covering pupils across the OECD, exploiti…

The VC sector is interesting both in its own right and as a proxy for entrepreneurial finance more broadly. We highlight the tax treatment of stock options as an important factor for variations in the…

The potential for institutional arrangements such as financial incentives and other market mechanisms to undermine intrinsic, moral motivation among both “producers” and “consumers” of tax-financed we…

This paper studies the role of strategic uncertainty in the Nash demand game. A player’s uncertainty about another player’s strategy is modeled as an atomless probability distribution over that player…

We analyze dynamic trading by an activist investor who can expend costly effort to affect firm value. We obtain the equilibrium in closed form for a general activism technology, including both binary a…

Current theoretical predictions of how employment protection affects firm productivity are ambiguous. In this paper, I study the effect of employment protection rules on labor productivity using Swedish…

This paper uses population register data on inheritances and wealth in Sweden to estimate the causal impact of inheritances on wealth inequality. We find that inheritances reduce wealth inequality, as…

The energy system in the Nordic countries faces changes driven by increasing integration with the rest of Europe and changes to the generation mix. These developments pose challenges with respect to f…

In recent years, there has been growing concern that multinational enterprises (MNEs) engage in strategic tax planning in order to shift profits to low-tax jurisdictions. This common perception is gen…

This paper considers factors determining tax incentives and examines how effective they are using data from OCED and EU countries. It is well known that countries compete when it comes to setting the…

Cross-country comparisons of entrepreneurship are difficult due to the lack of standard empirical definitions of entrepreneurship. Measures focusing on small business activity and selfemployment sugge…

Aim To study (a) the covariation between patient reported experience measures (PREMs) and registered process measures of access and continuity when ranking providers in a primary care setting, and (b)…

Private equity firms (“PE firms”) have become common as owners of established firms in concentrated markets. We discuss the antitrust implications of an active PE market and whether there are any spec…

This paper investigates two hitherto unexplored dimensions inherent in online sequential auctions, namely, how the time elapsed between the end of an auction and the end of the next one and the order…

We show that the firm-size distribution is an important determinant of the relationship between an industry’s employment and output. A theoretical model predicts that changes in demand for an industry…

This study provides an empirical test of price mimicking among publicly owned water utilities. Using a fixed effects spatial Durbin model with data from Swedish municipalities during 2002–2012, I estim…

We show that house prices in general did not respond to a substantial cut in the national property tax in Sweden. The estimates are based on rich register data covering more than 100,000 sales over a…

We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. Winning a lottery prize modestly reduces earnings, with t…

The hospitality industry is a rapidly growing revenue generator in many countries and is becoming economically important for generating employment and for integrating of immigrants into the labor mark…

The 2017 Global Award for Entrepreneurship Research is given to Hernando de Soto, president of the Institute for Liberty and Democracy (ILD) in Lima, Peru. Over the last 30 years, Hernando de Soto has…

Purpose – The purpose of this paper is to explore how the strength of political veto players affects the long-run credibility of economic institutions and how they jointly affect entrepreneurial activ…

Global engagement can impact firm organization and the occupations firms need. We use a simple task-based model of the firm’s choice of occupational inputs to examine how that choice varies with globa…

Using a dataset with over 24 million year-employment observations and the universe of more than 230,000 entries into entrepreneurship in one economy we analyze the gross (including the founders), net…

This paper provides an empirical assessment of an annual wealth tax. Using Swedish administrative data, I estimate net-of-tax-rate elasticities of taxable wealth in the range [0.09, 0.27]. Cross-check…