Showing 1 - 10 of 42
Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...
Persistent link: https://www.econbiz.de/10010604419
Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...
Persistent link: https://www.econbiz.de/10005405863
Management research has long focused on the theory of the firm, studying for-profit organizations that produce privately owned resources based on central authority and within well-defined boundaries. In recent times, a new kind of enterprise has emerged that we call Community Enterprises. They...
Persistent link: https://www.econbiz.de/10009020794
This paper sheds light on how changes in the organization of work can help to understand increasing wage inequality. We present a theoretical model in which workers with a wider span of competence (higher level of multitasking) earn a wage premium. Since abilities and opportunities to expand the...
Persistent link: https://www.econbiz.de/10010877910
According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital …. Fixed factor taxes have the potential to improve welfare by defusing the globalization trilemma through a reduction in the …
Persistent link: https://www.econbiz.de/10010877683
This study considers the effects of globalization, in its economic and social dimensions, on obesity and caloric intake … globalization and both obesity and caloric intake. A one standard deviation increase in globalization is associated with a 20 … social globalization, and specifically the effects of changes in information flows and social proximity. A one standard …
Persistent link: https://www.econbiz.de/10010948886
Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...
Persistent link: https://www.econbiz.de/10005013942
We examine the effects that a country’s net capital flows have on the (border) prices that a country pays for its imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to study exporters’ pricing behavior to the rest of the...
Persistent link: https://www.econbiz.de/10009645628
We analyze whether or not the globalization of capital, ‘disciplines’ governments and improves governance. We … demonstrate that globalization affects governance, by increasing a country’s vulnerability to sudden capital flight. This … ‘golden straitjacket’. However, globalization may also ‘overdiscipline’ governments - resulting in a perverse impact on …
Persistent link: https://www.econbiz.de/10009645630
distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial … financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries’ growth, and there appears to be no trade-off between these …
Persistent link: https://www.econbiz.de/10009645640