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The firm is defined in terms of its financial objectives, achieved through human-based organizational competence, conferring scale economies on all other factors. Competence is developed through organizational learning, jointly produced with the value added of the firm, largely manifesting...

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The importance of free innovative entry (deregulation) for diversity of structure and competition is studied. I demonstrate quantitatively that even with a narrow definition of entry (firms), and given observed entry behavior, successful entrants completely dominate the long run performance...

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While previous research documents a negative relationship between government size and economic growth, suggesting an economic cost of big government, a given government size generally affects growth differently in different countries. As a possible explanation of this differential effect, we...

Swedish Manufacturing Industry is said to be technologically and commercially in good shape. While Swedish wage levels were higher than in all industrial countries in the mid-70s, wages - expressed in international currencies - have now dropped to a mid-position, and real rates of return are...

This paper presents a model to explain why both industry leaders and follower firms often invest in R&D and explores the welfare implications of these R&D investment choices. Regardless of initial conditions, the equilibrium path in this model involves gradually convergence to a balanced growth...