We stablish a general relationship between the standard form of the individualistic social-welfare function and the "reduced-form" version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the...

Inter-organizational systems operate in an area where there are many interested parties. If the views of these interested parties are not explored and taken into consideration before and during the development of an inter-organizational system, it is likely that the implementation of this system...

Most interpretations of the Exchange Rate Mechanism crisis in 1992-93 ignore the key role played by structural policy spillovers among European countries, and overlook the effects of coordination (or lack thereof) of monetary and exchange rate policies among the countries making up the periphery...

We model organization as the command-and-communication network of managers erected on top of technology (which is modeled as a collection of plants). In our framework, the role of a manager is to deal with shocks that affect the plants that he oversees directly or indirectly. Organizational form...

This essay examines the fate of the 100 largest industrial firms in the world in 1912 over the period to 1995. Disappearance and decline were the most common outcomes, but a few outstanding performers ù firms like Burmah / BP and Procter & Gamble ù left descendants eight or nine times their...

According to Paul Krugman, “the European unemployment problem and the US inequality problem are two sides of the same coin”. In other words, both continents have had the same shift in demand towards skill; in the US relative wages have adjusted and in Europe not. The implication of this...

This paper discusses how to construct student loans to ensure that, for the most part, they count as private spending. Though the specifics relate to the finance of higher education, the issue has much wider ramifications for flexible combinations of public and private activity, for example in...

The labour demand decisions of multinational corporations (MNCs) are likely to depend not only on domestic, but also on foreign labour costs. This paper tests this hypothesis by estimating labour demand equations for a sample of Swedish MNCs. Indeed, higher foreign costs increase an MNC''s...

This paper investigates the extent of labour market reallocation across broad industrial sectors in the transition economies of Eastern Europe since 1989. It offers various measures of the magnitude of labour misallocation and of the speed and efficiency of reallocation during the first half of...