unchanging cost offers random ‘sales’ to increase customers’ expectation to consume, attracting more demand at high prices. …

size then costs more per unit than the small one. When quantity surcharges occur the sales of the large size decrease only …

based on Yeaple’s complex FDI concept. In its simplest form, horizontal-ness is measured as affiliates’ local sales share … in the EU and Asia. Affiliates became more vertical between 1996 and 2005. A four-way sales and sourcing split (host …

A striking fact about prices is the prevalence of "sales": large temporary price cuts followed by a return exactly to … the former price. This paper builds a macroeconomic model with a rationale for sales based on firms facing consumers with … different price sensitivities. Even if firms can vary sales without cost, monetary policy has large real effects owing to sales …

Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in … efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership …, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic …

shows that taxpayers are the main losers as subsidies are still needed. There are also serious efficiency-equity trade …

to children. Using the efficiency concepts proposed in Golosov, Jones and Tertilt (2007), we find that whenever the … standard OLG models with exogenous fertility and Millian efficiency in models with endogenous fertility. In particular, we show … that the usual conditions for efficiency are no longer sufficient. Further, we analyze several government policies in this …