This paper results from the research in the framework of the project "Market developments under transition (applied to the petrol and sugar industries)" and its policy implications. A general definition of the problem, the hypothesis and the research methodology are presented in the...

We study how smugglers respond to different types of migration policies - legalisation through the sale of migration visas, or more traditional repressive policies through borders' enforcement, employers' sanctions or deportation - by changing the price they propose to illegal migrants. In this...

We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...

We address the problem faced by innovators who have an idea for a marketable product but must hire employees to bring the product to the market. Information leakage implies that newly-hired employees become informed of the idea and may attempt to bring the product to the market themselves. We...

We examine the firm- and country-level determinants of the currency denomination of small business loans. We first model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs, and also incorporates the impact of...

How does market power influence profitability? Prior research gives no exact answer. However, theory indicates that the relationship is positive. The aim of this paper is to identify whether and how competition influences profitability in the Ukrainian transition economy. Current study employs...

Belief that competition is beneficial in general and for productive efficiency in particular is likely to root in competition's well established and rigorously proved positive relation to the optimal allocation of economic resources. This paper looking at the production side of the economy...

I use a new Call Reports data item to revisit the role of advertising in US commercial banking. I examine how banks' advertising varies with the deposit market structure and whether bank profitability is influenced by advertising. My analysis addresses the endogeneity of market structure and...

This Paper investigates whether the efficiency effect of product market dispersion is a function of the infrastructural and policy environment. We hypothesise that more developed transportation and communication infrastructure and lower government regulation may reduce transaction costs,...

We examine the relation between optimal venture capital contracts and the supply and demand for venture capital. Both the composition and type of financial claims held by the venture capitalist and entrepreneur depend on the market structure. Moreover, different market structures involve...