Inertia in academia sometimes obstructs the development of important insights. That is one reason for the specially long gap separating Coase's seminal paper [1937] that laid the foundations of current Transaction Cost Economics (TCE) and the efforts of scholars to develop his ideas. But as TCE...

Transaction Costs Theory has been considered the 'new orthodoxy' in the theory of the firm, being this the very same reason for wide criticism by different schools of economic thought. However, there seems to be signs of complementarity between TCT and evolutionary approaches to the firm. Some...

The phenomenon of offshoring, that is, the outsourcing of highly- qualified services into low wage countries was until now considered an economy-specific solution to counteract the constant rise in costs caused by the intensified global competition. At the same time, this form of cross-country...

In this paper we prove the existence of general equilibrium with transaction costs generalizing Hahn's (Review of Economic Studies, 1973, 40, 449-461) model by introducing producers and nonconvexities (in particular we allow for increasing returns in transaction sets). We also recover any...

We derive and discuss a general, but simple geographical economics model with congestion, allowing us to explain the economic viability of small and large locations. The model generalizes some previous work and lends itself to analyzing the impact of public policy in terms of infrastructure...

We derive and discuss a general, but simple geographical economics model with congestion, allowing us to explain the economic viability of small and large locations. The model generalizes some previous work and lends itself to analyzing the impact of public policy in terms of infrastructure...

This paper presents a model of two competing local telecommunications networks, similar in spirit to the model of Laffont, Rey and Tirole(1996). The networks have different attributes which we assume are fixed and the consumers have idiosyncratic tastes for these attributes. The networks are...

This article reassesses the link between international trade and income distribution. We argue that one way to assess the influence of international trade upon income distribution is to take account of each country’s specific trade patterns by measuring the changes in the factor content of...

Labour standards defined by the ILO in 1998 are universal but applied very differently in countries. They are much better respected in high income countries. However, the causality between labour standards and growth remains a controversial issue. The strategies of export-led growth might...

Labour standards defined by the ILO in 1998 are universal but applied very differently in countries. They are much better respected in high income countries. However, the causality between labour standards and growth remains a controversial issue. The strategies of export-led growth might...