We describe a rapid and efficient procedure for the fractionation of mixtures of nucleic acids (NA) into double-stranded (ds) and single-stranded (ss) forms regardless of the nature of the nucleic acid (DNA or RNA). The procedure is based on the differential binding of dsand ss-NA forms to silica particles in different lysis/binding buffers which have in common that they contain a high concentr...

Serial correlation in annual growth rates carries a lot of information on growth processes – it allows us to directly observe firm performance as well as to test theories. Using a 7-year balanced panel of 10 000 French manufacturing firms, we observe that small firms typically are subject to negative correlation of annual growth rates, whereas larger firms display positive correlation. Furtherm...

In this paper, we study industry equilibrium under the assumptions that (1) #rms need outside #nancing and (2) they have a moral hazard problem in taking potentially excessive risks. We characterize an industry equilibrium with credit rationing, where #rms choose not to take risks, and compare this to the industry equilibrium in the absence of credit rationing. In both cases, we show that compe...

Crowdfunding provides innovation in enabling entrepreneurs to contract with consumers before investment. Under demand uncertainty, this improves screening for valuable projects. Entrepreneurial moral hazard threatens this benefit. Studying the trade-off between screening and moral hazard, the paper characterizes optimal mechanisms. Popular all-or-nothing reward-crowdfunding schemes reflect thei...

The paper sets up a two-country asymmetric trade model with heterogeneous firms, search frictions and endogenous labor market institutions. Countries are linked by trade in goods and non-cooperatively set unemployment benefits to maximize national welfare. We show that more open and smaller economies have more generous unemployment benefit replacement rates as a larger fraction of the costs is ...

This paper analyzes the role played by intermediation in a decentralized market, where trade is carried out through bilateral bargaining, and where the bargaining outcomes depend on the process of search for suitable trading partners. To this purpose, ...rst a model of random matching and twosided search with heterogeneous agents is developed. The characterization of pure search equilibria is p...

Employing the error correction method and historical decomposition with direct acyclic graphs, we quantify the impacts of domestic and oversea animal disease crises on the Korean meat markets. We find that (a) the market partially recovered 16 months after the foot-and-mouth outbreak in 2000, and 13 months after the avian influenza and the U.S. BSE incidents in 2003; (b) animal disease outbreak...

Many important economic questions hinge on the extent to which new goods either crowd out or complement consumption of existing products. Recent methods for studying new goods rule out complementarity by assumption, so their applicability to these questions has been limited. I develop a new model that relaxes this restriction, and use it to study competition between print and online newspapers....