We consider an organization with two projects which have productive spillovers. Three agents are active in this organization: two agents, each specialized in one project, and the CEO, who is a generalist. The organization owner first allocates authority over each project to these three...

The key role MNEs play in the global economy through international investment, and the changing landscape of such investment as MNEs as well as host and home economies adjust to changing conditions and objectives, make it important to understand trends and developments with respect to FDI and...

This paper characterizes the optimal information structure in competitive insurance markets with adverse selection. A regulator assigns ratings to individuals according to their risk characteristics, insurers offer fixed insurance contracts to each rating group, and the market clears as in...

Unlike any other major component of GDP, private investment in nonresidential structures excluding drilling and mining (henceforth "NRS") has steadily declined since the start of 2020. Figure 1 shows the evolution of GDP as well as the main components of private domestic final demand since 2019

House prices have risen rapidly during the pandemic, creating $9 trillion in owner occupied housing wealth between the first quarter of 2020 and the first quarter of 2022. Both housing and non-housing inflation also moved up over this time period to its highest level in many decades

In most recessions, household spending on goods—particularly durables—and housing tends to fall sharply and remain weak for many quarters. In contrast, services spending has generally responded little to business cycles. This time, however, the opposite has occurred, as shown in Figure 1

In this paper, we present a simple model of information provision in competitive markets. We depart from previous literature in that we allow firms to choose both prices and information revelation policies. Under the assumption that the underlying state is binary, we show that in the unique...