We lay out a model of wage bargaining with two leading features: bargaining is ex post to relevant investments and there is individual bargaining in firms without a Union. We compare individual ex post bargaining to coordinated ex post bargaining and we analyze the effects on wage formation. As...

We develop a setting with weak intellectual property rights, where firms' boundaries, location and knowledge spillovers are endogenous. We have two main results. The first one is that, if communication costs increase with distance, entrepreneurs concerned about information leakage have a benefit...

This paper contrasts the different regional effects of an homogeneous monetary policy, and studies the local characteristics that underlie these differential responses. To this purpose, we use Spanish regional data and estimate a vector autoregression (VAR) model using seemingly unrelated...