In the literature, trade liberalization increases industry productivity through two channels. First, firms increase productivity due to better and wider choice of inputs. In addition, at least theoretically, the mechanism of selection eliminates the least productive firms from the industry. To...

In the middle of the 1990s, the European soccer body UEFA recommended to the National Soccer Federations that they should reward three points for a win instead of two points as under the old regulations. Soon, this new system was universally adopted by all countries. The purpose of this change...

The declining labor share in national income and rising inequality over the last four decades raise questions about causes of these trends. In order to explain these trends, we develop theoretical model that links intra-industry distribution of wages to variation in market power of firms. The...

The declining labor share in national income and rising inequality over the last four decades raise questions about causes of these trends. In order to explain these trends, we develop a theoretical model that links intra-industry distribution of wages to variation in market power of firms. The...