constructed measures of entry regulations and M and As. We conclude that entry costs have risen in the U.S. over the past 20 years …

: (1) distribution expenses are large - they amount to over half of labor costs; (2) plants in the largest decile …, distribution costs as a share of sales declined by one third. We develop a model of heterogeneous manufacturing firms that rely on … share. In combination with the model, these trends suggest largescale decreases in both variable and fixed costs of …

This paper reviews how recent studies of banking crises differ with regard to the dating, length, and costs of the … crisis costs. Cross-sectional evidence does not show that the length of a crisis is a significant contributor to its …

productivity. It is found that changes in the relative price of tradable goods in terms of nontradables account for a sizable … behavior of the relative price of tradable goods, especially in the long run. There is also some evidence that the EMS has … extended on relative price behavior …

This paper examines the evolution of the relative price between tradable and nontradable goods in a group of European … price of nontradable goods. These factors are: (a) faster technological progress in the tradable goods sector; (b) demand …

How should possible policy reforms and projects be assessed when prices give misleading signals? Revenues and costs at … market prices then give distorted measures of social gains and losses and our appraisal should use social opportunity costs …, or correctly defined, shadow prices. We show how shadow prices may be integrated into an analysis of tax and price reform …

determines the relative price of investment, can affect the investment rate and the permanent growth rate of the economy. The …

. Even when individual prices and outputs are correctly measured, however, shifts in relative prices consequent to price …