In an incomplete-contract setting, we analyse the contracting out of public service provision, comparing the performance of for-profit (FP) and not-for-profit (NP) firms. Two institutional arrangements are considered, control rights lying either with the firm (PPP) or the government (traditional...

A simple queuing mechanism is incorporated into a model of repressed inflation to reflect the experience of Soviet-type economies. Comparative statics are examined, with particular attention to the effects of a higher money price level. If wage rates are all the same--though thresholds may be...