paper is motivated by recent evidence that trade has greatly expanded on the extensive margin (aka fragmentation, offshoring … understood, a sufficient condition for all countries to gain from fragmentation is that the relative world prices of initially … results in interesting subtleties as initially-traded goods change their trade status following fragmentation. I illustrate …

paper, we adapt a general model of fragmentation of production activities to try to capture the specific features of …

of trade are higher with fragmentation for most countries but interestingly, for a large block of countries, these … variables fall following fragmentation. Countries with moderate trade costs engage in market-oriented assembly, while those with … trade accelerate as trade costs go to zero with and without fragmentation. …

properly designed - leniency may simultaneously provide an effective governance mechanism for occasional sequential illegal …

reciprocal exchange to lifetime employment, from relational governance to corruption/collusion. We study how agents …

Recent events in several countries have underscored the importance of good governance in private occupational pension …. Under complete contracting, governance can be shown to be neutral: DC and DB plans differ only on risk allocation. If …

Recent research on central bank governance has focused mainly on their monetary policy task. As the sub-prime loan … also in ensuring their soundness and stability. In this paper we study the specific corporate governance structures of a … public governance literatures, where present. Our analysis highlights a striking variety in central bank governance …