A model is developed highlighting interactions between firm-level union-employer bargaining and industry-level oligopolistic price-setting, combining models of parametric conjectural variation oligopoly and asymmetric Nash-bargaining. Wages can only be bargained up if product market behavior is...

Various hypotheses are examined seeking to explain inter-country convergence at the upper end, but divergence at the lower end, of the world income rankings. A model of disequilibrium growth with sector-specific technological progress and spillover is developed and then estimated on two samples...

How much information should a policy maker pass on to an ill-informed citizen? In this paper, we address this classic question of Crawford and Sobel (1982)in a setting in which beliefs impact utility, as in Kreps and Porteus (1978). We show that this question cannot be answered using a utility...

After a long dormant period, lower Sixth Avenue in New York has undergone a rapid revitalization. The authors show that a simple search theoretic model with information spillovers can explain both the period of underuse and the rapid turnaround. The model reduces to a simple equation, which...

Ownership structure among 470 U.K. listed companies is described by concentration indices and by "control type," the latter defined using both a fixed percentage shareholding and the "degree of control." The authors also test for possible controlling coalitions among groups of shareholders....