Christian Fons-Rosen
Pompeu Fabra University
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Publication
Featured researches published by Christian Fons-Rosen.
National Bureau of Economic Research | 2013
Christian Fons-Rosen; Sebnem Kalemli-Ozcan; Bent E. Sørensen; Carolina Villegas-Sanchez; Vadym Volosovych
We quantify the causal effect of foreign investment on total factor productivity (TFP) using a new global firm-level database. Our identification strategy relies on exploiting the difference in the amount of foreign investment by financial and industrial investors and simultaneously controlling for unobservable firm and country-sector-year factors. Using our well identified firm level estimates for the direct effect of foreign ownership on acquired firms and for the spillover effects on domestic firms, we calculate the aggregate impact of foreign investment on country-level productivity growth and find it to be very small.
Archive | 2015
Juan Carluccio; Alejandro Cuñat; Harald Fadinger; Christian Fons-Rosen
We present a factor-proportions trade model in which heterogeneous firms can offshore intermediate inputs subject to fixed offshoring costs. In the skill-abundant country, high-productivity firms offshore a larger range of labor-intensive inputs to the labor-abundant countries than low-productivity firms. Differently from the traditional versions of factor-proportions trade theory, Heckscher-Ohlin forces operate at the within-industry level, leading to endogenous variation in skill intensity across firms that is positively correlated with firm productivity. Using French firm-level data for the years 1996 to 2007, we provide empirical support for the factor proportions channel through which offshoring to labor-abundant countries affects the firm-level skill intensities of French manufacturers.
Archive | 2016
Christian Catalini; Christian Fons-Rosen; Patrick Gaulé
We test how a reduction in travel cost affects the rate and direction of scientific research. Using a fine-grained, scientist-level dataset within chemistry (1991-2012), we find that after Southwest Airlines enters a new route, scientific collaboration increases by 50%, an effect that is magnified when weighting output by quality. The benefits from the lower fares, however, are not uniform across scientist types: younger scientists and scientists that are more productive than their local peers respond the most. Thus, cheaper flights, by reducing frictions otherwise induced by geography and allowing for additional face-to-face interactions, seem to enable better matches over distance.
Archive | 2016
Christian Catalini; Christian Fons-Rosen; Patrick Gaulé
We test how a reduction in travel cost affects the rate and direction of scientific research. Using a fine-grained, scientist-level dataset within chemistry (1991-2012), we find that after Southwest Airlines enters a new route, scientific collaboration increases by 50%, an effect that is magnified when weighting output by quality. The benefits from the lower fares, however, are not uniform across scientist types: younger scientists and scientists that are more productive than their local peers respond the most. Thus, cheaper flights, by reducing frictions otherwise induced by geography and allowing for additional face-to-face interactions, seem to enable better matches over distance.
Archive | 2016
Ozlem Akin; Nicholas S. Coleman; Christian Fons-Rosen; Jose-Luis Peydro
We exploit the 2008-2010 TARP bank bailouts after Lehman’s failure to test for private information leakages from banking regulators to top corporate bank executives using insider trading data and information on political connections. In politically-connected banks, buying during the pre-TARP period is associated with increases in abnormal returns around TARP. For unconnected banks, insider trading and returns are uncorrelated. Results hold when comparing connected to unconnected executives within the same bank and are driven by political connections to financial branches of government. Through a FOIA request we obtained the previously unknown TARP funds requested by each bank. The ratio of requested to received funds strongly correlates with abnormal returns and is also a predictor of buying behavior by connected banks.
Archive | 2013
Michael Ewens; Christian Fons-Rosen
This paper studies if and how individual-level patenting activity changes as an employee transitions to entrepreneurial firm founder. Using a large database of employment and innovative histories of over 1110 spinoff firm founders, the empirical strategy tracks both founders and her co-inventors who remain at her previous employer. There are significant changes in patenting focus and quality. Founders are relatively more likely to focus on fewer industry patent classes as the lead patent author, while citing their previous work less. Their patent quality increases after spinoff firm founding in several ways. Non-self citations received increase and the types of patent applications point to a move towards longer-term projects. Finally, we interpret a higher probability of producing a patent in both the right and the left tail of the quality distribution as suggestive evidence of the spinoff firm pursuing riskier projects.
Archive | 2018
Christian Catalini; Christian Fons-Rosen; Patrick Gaulé
We test how a reduction in travel cost affects the rate and direction of scientific research. Using a fine-grained, scientist-level dataset within chemistry (1991-2012), we find that after Southwest Airlines enters a new route, scientific collaboration increases by 50%, an effect that is magnified when weighting output by quality. The benefits from the lower fares, however, are not uniform across scientist types: younger scientists and scientists that are more productive than their local peers respond the most. Thus, cheaper flights, by reducing frictions otherwise induced by geography and allowing for additional face-to-face interactions, seem to enable better matches over distance.
The American Economic Review | 2012
Jordi Blanes i Vidal; Mirko Draca; Christian Fons-Rosen
National Bureau of Economic Research | 2015
Pierre Azoulay; Christian Fons-Rosen; Joshua Graff Zivin
LSE Research Online Documents on Economics | 2010
Jordi Blanes i Vidal; Mirko Draca; Christian Fons-Rosen