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Towards a Legal Theory of the Firm : The Effects of Enterprise Liability on Asset Partitioning, Decentralization and Corporate Group Growth

Belenzon, Sharon - 2018

Limited liability is a key attribute of the corporate form and one of the most important institutional innovations of the nineteenth century. However, when the owner of a corporation is another corporation as in many corporate groups, an important justification for limited liability—to protect...

Persistent link: https://www.econbiz.de/10012916612

Production Chains

Levine, David K. - 2010

More advanced technologies demand higher degrees of specialization - and longer chains of production connecting raw inputs to final outputs. Longer production chains are subject to a "weakest link" effect: they are more fragile and more prone to failure. Optimal chain length is determined by the...

Persistent link: https://www.econbiz.de/10013135410

Global Supply Chains in the Pandemic

Bonadio, Barthélémy - 2020

We study the role of global supply chains in the impact of the Covid-19 pandemic on GDP growth for 64 countries. We discipline the labor supply shock across sectors and countries using the fraction of work in the sector that can be done from home, interacted with the stringency with which...

Persistent link: https://www.econbiz.de/10012833120

Revisiting European Unemployment : Unemployment, Capital Accumulation, and Factor Prices

Blanchard, Olivier - 2000

This paper starts from two sets of facts about Continental Europe.The first is the steady increase in unemployment since the early 1970s. The second is the evolution of the capital share, an initial decline in the 1970s, followed by a much larger increase since the mid-1980s. The paper then...

Persistent link: https://www.econbiz.de/10014158147

The Economic Consequences of Parental Leave Mandates : Lessons from Europe

Ruhm, Christopher J. - 2022

This study investigates the economic consequences of parental leave mandates using data for 16 European countries over the 1969 through 1988 period. Since women use virtually all of the family leave in most nations, men constitute a reasonable comparison group and the natural experiment in most...

Persistent link: https://www.econbiz.de/10014103217

Open Borders in the European Union and Beyond : Migration Flows and Labor Market Implications

Kennan, John - 2017

anywhere in the EU, and many did so. In 2015, a large number of refugees from Syria and other broken countries sought to … migrate to EU countries (along very dangerous routes), and these refugees were met with fierce resistance, at least in some … particular reference to the EU. The aim is to quantify the migration flows associated with EU enlargement, and to analyze the …

Persistent link: https://www.econbiz.de/10012965420

Non-Monetary News in Central Bank Communication

Cieslak, Anna - 2018

We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...

Persistent link: https://www.econbiz.de/10012911101

Fiscal Increasing Returns, Hysteresis, Real Wages and Unemployment

Blanchard, Olivier; Summers, Lawrence Henry - 2021

European unemployment is widely regarded as a problem of excessive real wages. This view as it is usually expressed carries the disturbing implication that there is a sharp conflict between the interests of those currently employed and the unemployed because it suggests that increases in...

Persistent link: https://www.econbiz.de/10013218438

The Aftermath of the 1992 Erm Breakup : Was There a Macroeconomic Free Lunch?

Gordon, Robert J. - 2021

This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...

Persistent link: https://www.econbiz.de/10013219692

Evaluating the European View that the Us Has No Unemployment Problem

Freeman, Richard B. - 2021

This study contrasts the labor market performance of the U.S. and OECD Europe in the 1980s and critically evaluates the … view that the U.S. has generated more jobs because its labor market is more 'flexible'. The study finds that the greater … employment expansion in the U.S. was associated with slower growth of real wages and productivity than in most of OECD Europe …

Persistent link: https://www.econbiz.de/10013220942