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reciprocal exchange to lifetime employment, from relational governance to corruption/collusion. We study how agents …. The aversion to intertemporal substitution, a regular feature of real world agents, facilitates cooperation by decreasing …. Access to goods’ markets and ‘money’ may then hinder cooperation by undoing these effects, allowing agents to save and …
Persistent link: https://www.econbiz.de/10005136656
The paper analyses governments’ trade-off between fiscal benefits and consumer surplus in privatization reforms of noncompetitive industries in developing countries. Under privatization, the control rights are transferred to private interests so that public subsidies decline. This benefit for...
Persistent link: https://www.econbiz.de/10005124293
detailed firm-level data from India, we provide the first evidence on the patterns of multi-product firm production in a large …-section, multi-product firms in India look remarkably similar to their U.S. counterparts, confirming the predictions of recent … churning - particularly product rationalization - is far less common in India. We thus find little evidence of "creative …
Persistent link: https://www.econbiz.de/10005123815
We investigate the impact of within-country spatial concentration of economic activity on country-level growth, using cross-section OLS and dynamic panel GMM estimation. Agglomeration is measured alternatively through measures of urbanization and through indices of spatial concentration based on...
Persistent link: https://www.econbiz.de/10005666860
This paper reviews the evidence about the effects of urbanisation and cities on productivity and economic growth in …
Persistent link: https://www.econbiz.de/10005791874
Public ownership is viewed as a restriction on the portfolio of equities held by investors. Three conditions are required to justify such restrictions. First, monitoring and coordination create concentration in supply or demand. Second, complete contracts must be infeasible or undesirable....
Persistent link: https://www.econbiz.de/10005656213
Most of the literature on the independence of the Central Bank assumes only one policy instrument is available: monetary policy. If we introduce fiscal policy as well, when preferences may differ among policy-makers, the situation is radically different. In this case fiscal policy will weaken...
Persistent link: https://www.econbiz.de/10005504246
’s constraints on issue linkage (cross-retaliation) welfare-enhancing? To facilitate international cooperation should governments … choices (e.g. to ‘conservative’ central bankers) are good or bad for international policy cooperation? …
Persistent link: https://www.econbiz.de/10005504790
for cooperation. As a counterfactual, we analyse worker behaviour when workers are paid piece rates and thus have no … exposure cooperate more. Shocks to the workforce in the form of new worker arrivals disrupt cooperation in the short term but …
Persistent link: https://www.econbiz.de/10005498099
Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment after too few noisy signals. The combination of these...
Persistent link: https://www.econbiz.de/10011084106