-adjustment costs in an inflationary environment. The model nests both the original menu-cost model that allows production to be …

unequal tax treatment of public and private sectors precludes production efficiency, it may improve welfare by mitigating the …

Team production is a frequent feature of modern organizations. Combined with team incentives, team production can …

. Furthermore, we show that a production mode with a higher proportion of outsourcing activity reduces the negotiated wage in the …. Finally, we characterize the optimal production mode and show that stronger labour market imperfections lead to a production …

result in both models is that production, supply of credit and the front payment to capital producers depend heavily on the … stock market cycles. During phases of optimism, credit is abundant, access to production capital is easy, the cash …-in-advance constraint is lax, the risks are undervalued, and production is booming. But upon reversal in market sentiment, the contraction …