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...

La conciliación entre trabajo y familiapuede ser facilitada o diÞ cultadadesde la empresa. Las empresas soncada vez más conscientes de que elequilibrio personal repercute en elrendimiento y en la productividad.El artículo ofrece datos acerca dela situación actual de las empresascolombianas...

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...

This article analyses a model in which a local monopolist that produces low-quality goods competes against a foreign competitive industry that produces a higher quality version of the goods. We use the model to analyse the welfare implications of introducing a unit tax on the local producer,...

In the presence of a non-constant marginal cost and demand uncertainty, we show that an output increase is no longer a necessary condition for welfare to increase following the introduction of third-degree price discrimination. We thus highlight the existence of an effect that might offset the...

We show that if firms in an industry engage in third-degree price discrimination, the number of firms in the free-entry equilibrium may be inefficiently low. This result is obtained even with set up costs and a price above marginal cost. We discuss the relevant implications that our result has...

In this note, we suggest a link between tariff protection and firms' incentives to engage in a horizontal merger. We consider a Cournot oligopoly with equal, constant marginal costs where firms have to decide on lobbying efforts prior to choosing output. These lobbying efforts will determine...

This article analyzes a sample of contracts that includes transfers of technology to Spanish subsidiaries in 1991. First, know-how is more likely transmitted within multinationals than between unrelated firms, highlighting the key role of multinationals in the diffusion of tacit knowledge. The...