An interesting finding in recent research is that strategic considerations and collective bargaining structure often influence foreign direct investment. In this paper, I argue that the support for the decentralisation of collective bargaining may ba an optimal response by unions to the growing...

Using a dynamic optimization model with status preference this paper shows that depending on the object of people's status preference an economy exhibits a completely opposite performance; permanent growth or persistent stagnation. If the object is a producible asset (viz. real capital), new...

We analyse empirically the effect of uncertainty on fixed investment by estimating an accelerator-type investment function based on a panel data set of the Hapanese manufacturing firms. The uncertainty measure, represented by the conditional standard deviation of the sales ghrowth rate, is...