Despite descriptive empirical evidence on start-up numbers and survival rates of young firms, the interaction of market entry decisions and reactions of incumbent competitors is still insufficiently understood in the entrepreneurship literature. Repeated games offer a suitable theoretical...

The Euro Area Policies’ 2007 Article IV Consultation reports that the economy is poised for a sustained upswing because of cyclical considerations and policies, which have had a forward-looking cast. The area’s external position and the real effective exchange rate of the euro are...

Am 15. Dezember 1993 ist die absolute "Deadline" für die schon zweimal verlängerte Uruguay-Runde. Im Agrarsektor ist das sog. Blair-House-Abkommen, das eigentlich den Ausweg aus den festgefahrenen GATT-Verhandlungen weisen sollte, weiter heftig umstritten. Das kategorische Nein der USA zu...

A “low-balling strategy” by bidding contractors has increasingly been recognized as an important issue in public infrastructure procurement. Public works contracts are often imperfect and renegotiated after the contract award. Given the expectation for ex post adjustments, bidders seem...

This Selected Issues paper is a wide-ranging survey of the conditions for, and obstacles to, the growth in Mexico. It frames the issue of Mexico’s growth record, and presents the paper’s prior assumptions and approach. It highlights the main observations and conclusions emerging...

Quarterly panel data covering the largest 10,000 city-pairs in the domestic US from 1998 are used to investigate airlines market entry and exit decisions. Several models are estimated looking at changes in the number of carriers serving in a market. The influence of a number of markets...

The ability to keep up with changing technology is critical for a company's long-term survival. However, companies have to balance the risk of rushing into new areas and potentially cannibalizing their existing business against the risk of missing the emerging market. This paper investigates...