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Business Economics

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AI unbound: digital infrastructure, AI adoption, and firm performance

Published: April 15, 2026 00:00

We study how digital infrastructure relaxes constraints on the diffusion and economic impact of artificial intelligence (AI). Using administrative data and a nationally representative enterprise survey from Turkey (2021-2024), we document significant…

Chokepoint: the Financial Effects of Rare Earth Supply Disruptions

Published: April 9, 2026 00:00

This paper constructs a high-frequency, news-based measure of rare earth supply shocks to examine how disruptions in these critical inputs affect global firm valuations. Using news articles between 2021 and 2025, I identify exogenous rare earth supply…

Carbon regulation and competition in the European airline industry

Published: March 30, 2026 00:00

The European Union Emissions Trading System is set to substantially increase the effective carbon price faced by airlines. To quantify the impact of this carbon regulation on the European airline industry, we estimate a two-stage model of airline…

Who Adopts AI? Evidence on Firms, Technologies and Worker

Published: March 27, 2026 00:00

Using two waves of nationally representative Danish firm surveys linked to employer– employee administrative registers, we study how adoption varies across artificial intelligence (AI) and related advanced technologies. We show that AI adoption is highly…

Do State SME Programs Work ? Evidence from Loan Subsidies and Credit Guarantees in Kazakhstan

Published: March 23, 2026 00:00

This paper evaluates the employment and sales effects of two widely used financial support instruments for small and medium-sized enterprises, interest rate subsidies and credit guarantees, using administrative program data from Kazakhstan matched to the…