Publications

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 evaluate the impact on earnings, pensions, and further labor market outcomes of two parallel educational reforms increasing instructional time in Swedish primary school. The reforms extended the an…

We argue that scholars in the Austrian tradition of economics should incorporate the notion of a collaborative innovation bloc into their study of spontaneous market order. We demonstrate how successf…

Using detailed census data covering over 40,000 farms in Alberta, Saskatchewan and Manitoba, Canada, we document the vast and increasing farm size heterogeneity, and analyze the role of farm size in a…

We surveyed a large sample of Swedish lottery players about their psychological well-being and analyzed the data following pre-registered procedures. Relative to matched controls, large-prize winners…

The dispute settlement mechanism (DSM) is today the most active dispute resolution forum in the world. However, its success has also led to increased processing time of disputes, which, in turn, incre…

There is a well-known positive association between job status and health. The relationship has been taken as evidence of how the work environment shapes health. But newly published research from the R…

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…

We provide empirical evidence that uncertainty (rather than risk) and optimism are distinctive characteristics of high-impact entrepreneurial firms (recently listed firms) relative to old, incumbent f…

In Sweden, a trust-based system of school performance evaluation meets a market-oriented school system with liberal entry conditions for voucher-funded private providers. National standardized tests a…

The basic principle governing the development of the accounting framework is the choice of appropriate comparators. Firstly, when measuring contributions to job creation, we should focus on just job 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…

The current study provides the first experimental test of the compromise effect, i.e. the tendency to choose middle options, in a naturally occurring setting. Simultaneously, I propose and evaluate a…

The paper reports the first experimental study on people’s fairness views on extreme income inequalities arising from winner-take-all reward structures. We find that the majority of participants consi…

We study a reform by which a standardized model of choice and competition was introduced in tax-financed home care in a majority of Swedish municipalities. The market for home care is of particular in…

We measure labor productivity in home care using new data from the recent introduction of digital time measurement in Swedish municipalities. By measuring worker utilization (delivered hours as a shar…

Zonal pricing with countertrading (a market-based redispatch) gives arbitrage opportunities to the power producers located in the export-constrained nodes. They can increase their profit by increasing…

Policymakers in several countries have recently taken steps to promote the rapid export expansion of small- and medium-sized enterprises (SMEs). The goal of these policies has been to create successfu…

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…

Market power in electricity wholesale markets arises when generators have incentives to mark up their offers above the cost of production. I model a transmission network with a single line. I derive o…

Competition between oligopolist electricity generators is inhibited by transmission constraints. I present a supply function equilibrium (SFE) model of an electricity market with a single lossless, bu…

Earning forecasts disclosed by financial analysts are known to be overly optimistic. Since an investor relies on their expertise, the question arises whether he would take analyst recommendations at f…

This paper asks to what extent life satisfaction among immigrants remains similar to that in their country of origin and to what extent it adapts to that in their country of residence. We employ data…

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 reports results from a classroom dictator game comparing the effects of three different sets of standard instructions. As was shown by Oxobyand Spraggon (2008), inducing a feeling of entitl…

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…

In this paper, we introduce a special issue of Small Business Economics on Financial and Institutional Reforms for an Entrepreneurial Society in Europe. There are many reasons for Europe to want to ma…

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…

The privatization of state owned enterprises is on the agenda across the globe. Using Swedish data covering two decades, we show that productivity gains and headcount reductions are coupled with econo…

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…

I ett Letter to the Editor i Financial Times skriver Lars Oxelheim, Lunds universitet och affilierad till IFN, om likheten mellan utbud och efterfrågan på pengar i slutet av 1970- och början av 1980-t…

Little is known about self-employment as a career choice for women who marry a highincome spouse. We show that Swedish women who are married to a high-income spouse are, on average, highly educated an…

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 merger…

This paper employs Swedish data containing security level information on households' stock holdings to investigate how consumption responds to changes in stock market returns. We exploit households’ p…

Since the early 1980s a wave of liberalizing reforms has swept over the world. While the stated motivation for these reforms has usually been to increase economic efficiency, some critics have instead…

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…

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…

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 world is in a state of upheaval. In the last decade, much of public debate has been dedicated to global power shifts away from the United States and Europe and towards countries with strong econom…

This study increases our knowledge regarding the challenges of governing hybrid organisations in general and enterprises owned by local government in particular. Therefore, the findings of this study…

Bakardijeva Engelbrekt, Bremberg, Michalski, and Oxelheim introduce the concept of trust in the European Union by pointing out its elusive character comprising both interpersonal relations and attitud…

In recent years income distribution issues have received increased attention in most economically advanced countries both in the public debate and in academic circles. This reflects an international t…

Bergh considers the relationship between migration and interpersonal trust in the European Union. Interpersonal trust, Bergh avers, is an important foundation for a well-functioning society. The quest…

In this chapter we describe the EUs social dimension and its development aimed at an understanding of the prosperity gap in the EU. We identify the new social challenges the Union faces in the wake of…

The European Union suffers from an innovation deficit, which must be remedied if the EU is to improve the quality of life of its citizens and remain competitive in the global marketplace. In order to…

In this chapter I highlight how new research can provide answers to how gaps in health and wealth can be reduced. The focus is on an approach that can identify the causal direction of the connections…

Written in celebration of its 350th anniversary in 2018, this book details the history of the central bank of Sweden, Sveriges Riksbank, as presented by Klas Fregert. It relates the bank's history to…

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 thesis contains an introduction and four essays that together address the issues of turnout and habitual voting. Although voting is less unequal than other forms of political participation, it is…

Taking an interdisciplinary approach, the authors invaluably pinpoint both overarching problems and possibilities associated with the social dimension of European integration. Prominent researchers of…

This book addresses the challenges presented to the EU by an increasingly complex security environment. Through the interdisciplinary approach taken, researchers in economics, law and political scienc…

This is the first book in the Interdisciplinary European Studies collection. This volume provides an interdisciplinary perspective on trust in the EU from the vantage point of political science, law a…

Written in celebration of its 350th anniversary in 2018, this book details the history of the central bank of Sweden, Sveriges Riksbank, as presented by Klas Fregert. It relates the bank's history to…

The Timbro Sharing Economy Index is the first global index of the sharing economy. The index has been compiled using traffic volume data and scraped data, and provides a unique insight into the drivin…

We employ geocoded data to explore the effects of ethnic enclaves in Swedish cities on the propensity of Middle Eastern immigrants to use business ownership as a vehicle to transcend from labor market…

This paper starts with the observation that almost all military dictatorships that democratize become presidential democracies. I hypothesize that military interests are able to coordinate on status-p…

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…