This paper estimates a dynamic, structural model of entry and exit in an oligopolistic industry and uses it to quantify the determinants of market structure and long-run firm values for two U.S. service industries, dentists and chiropractors. Entry costs faced by potential entrants, fixed costs...

Instituting an initial round of centralized wage setting before an ultimate round of decentralized wage bargaining may actually raise employment. A general multi-equilibrium model is set up with strategic complementarities in the implementation of a new technology through aggregate demand...

Books reviewed: Robert F. Emery, Korean Economic Reform: Before and Since the 1997 Crisis John Cornwall and Wendy Cornwall, Capitalist Development in the Twentieth Century: An Evolutionary-Keynesian Analysis A. Blinder, C. Goodhart, P. Hildebrand, D. Lipton and C. Wyplosz, How Do Central Banks...

Despite its rapid growth in recent decades, GDP per capita in India remains at a relatively low level by international standards, and the country continues to be marked by large subnational disparities in levels of well-being. These large disparities naturally lead to interest in India?s spatial...

China has used two main spatial policies to shape its geographic patterns of development: restricted labor mobility through the Hukou residential registration system and massive infrastructure investment, notably a 96,000 kilometer national expressway network. This paper develops a structural...

Using firm-level data covering 709 cities in 128 countries, this paper examines the role of a comprehensive list of business environment variables at the subnational level in explaining firm employment and productivity growth. The analysis finds basic protection, access to finance and...