This paper analyses the impact of variations of product demand on the amount of internal slack in multi-plant firms in …. In such a model, the amount of slack in the firm is shown to be pro-cyclical. Indeed, as capacity constraints become … tighter in booms, slack increases in booms, because the power of in-house competition is reduced, while the opposite is true …

. Outsourcing decisions then balance flexibility gains against hold-up costs of opportunistic behaviour by outside contractors. In …

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …

Most analyses of the Kyoto flexibility mechanisms focus on the cost effectiveness of "where" flexibility (e.g. by … Annex 1 countries). Less attention has been devoted to "when" flexibility, i.e. to the benefits of allowing emission permit …

flexibility in the firms’ investment decisions. When the government can commit to an export subsidy, it may choose to over- or …

simulation to provide substantial stabilization for the exchange rate while retaining considerable flexibility and robustness in …

-stage game with uncertainty it is demonstrated that location is influenced by both flexibility and strategic concerns. We show …

This Paper (a) provides a framework for quantifying any economy’s flexibility, and (b) reviews the evidence on New …