This report employs detailed transaction records from AlipayHK to evaluate the effectiveness of the 2021 Hong Kong Consumption Voucher scheme. We use a difference-in-differences (DID) design that compares the change in the spending of the voucher recipients...

We construct an endogenous growth model with random interactions where firms are subject to distortions. The TFP distribution evolves endogenously as firms seek to upgrade their technology over time either by innovating or by imitating other firms....

This paper investigates the impact of broadband Internet on traditional public media in a large developing country. We use new panel data on public broadcasting at the province level from 2005 to 2017 and a control function approach exploiting variation...

This paper examines the long-standing question about the interplay between firms’ innovation and marketing decisions. We develop new perspectives that emphasize the relationships of different marketing activities to...

While air pollution has tremendous impacts on many aspects of the economy, little is known about how pollution affects marketing activities. We provide the first study on the causal effect of air pollution on advertising markets. Taking an instrumental...

We provide the first quantified evidence on the impact of the media on consumers' evaluation of product quality and their welfare in international trade. Our estimation is based on an exploration of the changes in the global dairy product trade following...