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specialization of production stages. While increased trade is likely to in-duce fragmentation when the number of firms is fixed, free …
Persistent link: https://www.econbiz.de/10009780202
Fragmentation of the value-added-chain is modeled as the reaction of monopolistically competitive firms to the removal of barriers to trade and factor mobility in an integrated trading environment. Since fragmentation requires high-skilled labor, this form of globalization can induce labor...
Persistent link: https://www.econbiz.de/10009781633
The aim of the study is to explain if the foreclosure effect on prices is explained by a lower quality of foreclosed houses, which is a crucial aspect in the intelligibility of foreclosures. Based on a novel and comprehensive dataset, we estimate the impact of foreclosure on home prices in...
Persistent link: https://www.econbiz.de/10010477084
Persistent link: https://www.econbiz.de/10003496505
Many tasks can only be completed if several people contribute. Likewise, many institutions, e.g. voting rules, require the support of several people to implement specific decisions. In such situations, individual costs from supporting may decrease in the number of supporters. This holds true for...
Persistent link: https://www.econbiz.de/10011343048
We propose a quantitative framework for the analysis of industrialization in which specialization in manufacturing or …
Persistent link: https://www.econbiz.de/10009621748
Persistent link: https://www.econbiz.de/10009763540
Introductory economics courses emphasize opportunity cost, comparative advantage and specialization to show the … benefits of trade. We assert that this emphasize leads to erroneous student mindset that trade requires specialization based on … comparative advantage. We test students who have been exposed to the typical textbook and classroom presentation of specialization …
Persistent link: https://www.econbiz.de/10010490275
We develop a simple information-based model of FDI flows. On the one hand, the relative abundance of intangible capital in specialized industries in the source countries, which presumably generates expertise in screening investment projects in the host countries, enhances FDI flows. On the other...
Persistent link: https://www.econbiz.de/10011402538
reaching an agreement of specialization in which the wife specializes in raising kids (home production) while the husband works …
Persistent link: https://www.econbiz.de/10012669786