This paper summarizes reactions to the theory of contestable markets and industry structure. The reactions came immediately after the theory was published. The summary finds that the proposed theory stands on sound grounds. However, empirically the theory leaves much to be desired especially for...

This paper investigates the effects of a decrease in fixed costs on the division of labor within firms. In the constant markup rate model, a decrease in fixed costs curbs the division of labor. In the short run, the division of labor is promoted through labor reallocation within firms while in...

Discussion of "The Pricing Behavior of Firms in the Euro Area: New Survey Evidence" by S. Fabiani, M. Druant, I. Hernando, C. Kwapil, B. Landau, C. Loupias, F. Martins, T. Mathä, R. Sabbatini, H. Stahl, and A. Stockman (2004); Presented at the Inflation Persistence Network (IPN) Conference on...

This paper incorporates the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences) and suggests a holistic framework for analysis of agrarian contracts. First, it specifies type and importance of...

A substantial number of studies have extended the work on universal properties in physical systems to complex networks in social, biological, and technological systems. In this paper, we present a complex networks perspective on interfirm organizational networks by mapping, analyzing and...

The dairy sector is among the most fundamentally affected by post-communist transition and EU integration of Bulgaria. This paper presents the dairy chain management in the country at current present stage of development. First, it analyses the state and forms of dairy value chain management...

In this paper, we construct a simplified general oligopolistic equilibrium (GOLE) model, in which Smith's (1776) famous theory of division of labor is embedded. In the absence of labor market integration with trading countries, we show that trade liberalization promotes a reduction of the number...

Our objective in this paper is threefold. First, to identify the major common shocks that hit these countries upon entry into the EMU. Second, taking Greece as our case study, to construct a simple macroeconomic model of the policies Greek governments pursued in the presence of these shocks, and...

Some major policy changes towards a more open trade and investment regime occurred in Indonesia during the 1980s and 1990s. The impact of these policy changes on the country’s industrialisation has been generally favourable. However, little is known about the impact on the dynamics of plant in...

We consider a semi endogenous R&D growth model with international trade, firm heterogeneity, and local knowledge spillover in a closed economy and international knowledge spillover in a symmetric two country economy. We show that by opening trade R&D difficulty (the number of varieties produced)...