We propose an incomplete contract model of licensing of a cost-reducing technology. We incorporate exchange rate uncertainty and analyze its impact on the parties' investment and licensing decisions. We show that exchange rate uncertainty introduces a distortion in the parties' specific...

A sense of ratified injustice pervaded Repsol executives, when, on the mid-afternoon of April 16, rumors coming from Argentina were confirmed. It is noon in Argentina. At the Casa Rosada in Buenos Aires, the head of state, Cristina Fernández de Kirchner, is surrounded by governors and business...

This study examines the stochastic properties of different measures of Total Factor Productivity (TFP) in the USA and their components using fractional integration. The results show that its structure is more complicated than expected, formed by the interaction of various seasonal and...

This article searches for evidence on the additional difficulty the parties have in contracting for the transfer of know-how relative to the transfer of patented technology. A sample of contracts for the acquisition of technology Spanish firms in 1991 is analysed to find a positive relationship...