In most elections the leaders of organizaed interest groups publicly announce their support for one candidate or slate of candidates or another. Why are there political endorsements made? and what role do they play in the election process and in the determination of policy? We see public...

We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...

Economic policymaking in modern democracies generates a great deal of special-interest politics. In policy areas such as finance, trade policy, and regulation, policy decision create benefits for well-defined groups with the cost borne by society at large. Given the difficulties with the...

We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...

It is apparent from the reported estimates that R&D is an important activity that has a major impact on the performing countries as well as on their trade partners. We may not yet have precise estimates of these impacts, both because of difficulties with available data and because of some...