Showing 1 - 10 of 475
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. However, the manager can use her...
Persistent link: https://www.econbiz.de/10012752291
Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...
Persistent link: https://www.econbiz.de/10013071909
accentuating the role of state courts and legislatures in the creation and regulation of nineteenth-century American nonprofit …
Persistent link: https://www.econbiz.de/10013022925
This paper explores the origins and effects of occupational licensing regulation in late nineteenth and early twentieth … century America. Was licensing regulation introduced to limit competition in the market for professional services at the …
Persistent link: https://www.econbiz.de/10013248281
During the Progressive Era at the beginning of the 20th century, the United States replaced litigation by regulation as … enforcement strategy between litigation and regulation based on the idea that justice can be subverted with sufficient expenditure … environment of significant inequality of wealth and political power. The switch to regulation can then be seen as an efficient …
Persistent link: https://www.econbiz.de/10013246364
We survey an emerging literature at the intersection of organizational economics and international trade. We argue that a proper modelling of the organizational aspects of production provides valuable insights on the aggregate workings of the world economy. In reviewing the literature, we...
Persistent link: https://www.econbiz.de/10012770584
This paper develops a model that speaks to the goals and methods of financial-stability policies. There are three main points. First, from a normative perspective, the model defines the fundamental market failure to be addressed, namely that unregulated private money creation can lead to an...
Persistent link: https://www.econbiz.de/10013128276
. TCR sees regulation as the governance structure of these interactions, and thus, as in standard transaction cost economics … possible institutional alternative. In that sense, politics becomes fundamental to understanding regulation as the governance …This paper discusses the fundamental underpinnings and some implications of transaction cost regulation (TCR), a …
Persistent link: https://www.econbiz.de/10013130971
Occupational licensing is among the fastest-growing labor market institutions in the U.S. economy. One of the key features of occupational licensing is that the law determines who gets to do the work. In those cases where universally licensed occupations are both complements to and substitutes...
Persistent link: https://www.econbiz.de/10013135757
regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under … heavy burden of monopoly and regulation. We find little evidence that the introduction of social protection programs for …
Persistent link: https://www.econbiz.de/10013135761