We investigate how university governance affects research output, measured by patenting and international university research rankings. For both European and U.S. universities, we generate several measures of autonomy, governance, and competition for research funding. We show that university...

This paper investigates contracting situations where giving away some control rights enhances both the donor's and the receiver's incentives to cooperate in the future. We define a partial contracting framework with nonverifiable actions for which either control is contractible (contractible...

The paper contributes to the policy debate on European integration by analyzing intra-Community trade and studying the structural determinants of European competitiveness. Four types of explanatory factors of intra-EC trade are distinguished: (1) factors related to inter-industry trade; (2) factors...

The paper attempts to quantify the gains and the losses for India from the changes in import tariffs decided during the Tokyo Round of Multilateral Trade Negotiations. The study focuses on exports to the ECCC, Japan, and the US. It is conducted at the tariff line level and uses the actual...

This short paper surveys some recent research on the internal organization of firms, with an emphasis on task allocation and synchronization. It focuses on an organization facing no incentive problems but time constraints and costs of communication. It highlights two motives for communication:...

Fiery economic debates about the effectiveness of devaluations have recently emerged in EMS and in other industrialized countries that maintain more or less officially pegged exchange rates. A rigorous assessment of this issue must pay careful attention to the interactions between real and...

This paper develops a general equilibrium model of technological adoption in an economy populated by 'satisficing' entrepreneurs whose main objective is to minimise innovative effort while keeping the firm alive. In such an economy, product market competition is shown to have a stimulating...

We develop a model that clarifies the respective advantages and disadvantages of academic and private-sector research. Our model assumes full protection of intellectual property rights at all stages of the development process, and hence does not rely on lack of appropriability or spillovers to...

This paper develops an agency model in which firms can influence their own incentives to provide a non-contractible effort by contracting on other variables (e.g. by committing themselves to some verifiable investment). In such a model the firms' need for outside finance is shown to interact...