This paper describes a dynamic, general equilibrium model designed to assess whether contractual imperfections in the form of limited enforcement can account for international differences in the organization of production. In the model, limited enforcement constrains some agents to operate...

This paper presents a comparative study of the level of unit labor costs in the manufacturing sectors of several countries. The paper begins by surveying earlier estimates of relative productivity and unit labor cost levels and evaluating the various methodologies that have been used in previous...

The authors analyze a range of corporate governance variables as they pertain to a sample of bank holding companies (BHCs) and manufacturing firms. They find that BHCs have larger boards and that the percentage of outside directors on these boards is significantly higher; also, BHC boards have...

This article estimates the extent to which the manufacturing sectors of U.S. metropolitan economies face competition from abroad and, in turn, how much they export overseas.

International markets are an important contributor to U.S. economic activity. U.S. regions have varying exposure to the influences of international markets--foreign demand or exchange rate movements. Still, the overriding determinants of regional economic growth is the state of the domestic economy.

The number of subcenters in the Chicago metropolitan area rose from 13 in 1980 to 32 in 2000. Whereas manufacturing jobs dominated subcenters in the past, the industry mix now closely resembles that of the overall metropolitan area.

Manufacturing is a major force in the Tenth District economy, accounting for the largest share of output in the region and one of the largest shares of employment. Moreover, many manufacturing jobs are among the highest paying jobs in the district. Yet little information is available to track...