This paper studies the macroeconomic implications of firm-branding activities. We show empirically that firms build market share by creating new brands, developing their existing brands, and buying established brands from other firms. Sales and prices of the underlying branded products tend to...

In this paper, we construct an elaborate general equilibrium model with a continuum of production fragments for an intermediate good, then embed it in a growth model to address the effects of global production fragmentation, vertical specialization and trade on growth and inequality for a small...

This paper explores comparative cost structures when large firms split operations between separate production facilities in a way that puts pressure on wage rates and worker effort levels: one example of a divide and rule strategy. It differentiates horizontal structures of this kind based on...