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Now showing items 31-40 of 435
Technology, Information, and the Decentralization of the Firm
(MIT Press, 2007)
This paper analyzes the relationship between the diffusion of new technologies and the decentralization of firms. Centralized control relies on the information of the principal, which we equate with publicly available ...
Trade and Capital Flows: A Financial Frictions Perspective
(National Bureau of Economic Research, 2007)
The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this ...
Negotiating Free Trade
(Elsevier, 2007)
We develop a dynamic bargaining model in which a leading country endogenously decides whether to sequentially negotiate free trade agreements with subsets of countries or engage in simultaneous multilateral bargaining with ...
Financial Development and the Instability of Open Economies
(Elsevier, 2004)
This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital ...
Entry and Productivity Growth: Evidence From Microlevel Panel Data
(MIT Press, 2004)
How does entry affect productivity growth of incumbents? In this paper we exploit policy reforms in the United Kingdom that changed entry conditions by opening up the U.K. economy during the 1980s and panel data on British ...
Is the U.S. Aggregate Production Function Cobb-Douglas? New Estimates of the Elasticity of Substitution
(Berkeley Electronic Press, 2004)
I present new estimates of the elasticity of substitution between capital and labor using data
from the private sector of the U.S. economy for the period 1948-1998. I first adopt Berndt’s
(1976) specification, which ...
Organizations and Trade
(Annual Reviews, 2009)
We survey an emerging literature at the intersection of organizational economics and international trade. We argue that a proper modeling of the organizational aspects of production provides valuable insights on the aggregate ...
Global Sourcing
(University of Chicago Press, 2004)
We present a North‐South model of international trade in which differentiated products are developed in the North. Sectors are populated by final‐good producers who differ in productivity levels. On the basis of productivity ...
The Nash-Threats Folk Theorem with Communication and Approximate Common Knowledge in Two Player Games
(Elsevier, 2007)
We show that the use of communications to coordinate equilibria generates a Nash-threats folk theorem in two-player games with “almost public” information. The results generalize to the <i>n</i>-person case. However, the ...
Cyclical Budgetary Policy and Economic Growth: What Do We Learn From OECD Panel Data?
(University of Chicago Press, 2007)
This paper uses yearly panel data on OECD countries to analyze the relationship between growth and the cyclicality of government debt. We develop new time-varying estimates of the cyclicality of public debt. Our main ...