This paper examines two broad issues related to foreign investment by Swedish multinationals: first the effects of outward foreign direct investment on domestic investment, exports, and employment, and second, the effects on the domestic economy from the increasing division of labor between the...

Two principals simultaneously appoint one agent each and decide how much power to give to their agents. The agents' task is to bargain over the provision of a public good. Power here means the right to decide the own side's provision if negotiations break down. In equilibrium the principals...

We study diversification within the real estate industry because of its relative transparency: portfolio management of assets with well-defined market prices. Diversification is over property types and geographical regions. The major cause of the diversification discount is not diversification...

The paper presents a theoretical alternative to the commonly held belief that poison pills affect shareholder wealth negatively. Specifically, the paper models how ex ante shareholder wealth can be maximized with contractual provisions that resemble poison pill plans and, reversely, voluntary...

It is a well known fact that on average, women in all countries earn less than men. Although less pronounced among OECD countries, the fact remains that the gender gap in earnings still persists to a significant degree. Less well known is that the rate of return (ROR) to university education is...

Bernardo and Ledoit (2000) develop a very appealing framework to compute pricing bounds based on the so-called gain-loss ratio. Their method has many advantages and very interesting properties and so far one important drawback: the complexity of the numerical computation of the pricing bounds....

We consider HJM type models for the term structure of futures prices, where the volatility is allowed to be an arbitrary smooth functional of the present futures privce curve. Using a Lie algebraic approach we investigate when the infinite dimensional futures price process can be realized by a...

Background: The Fracture Intervention Trial (FIT) showed that the bisphosphonate alendronate reduces the risk of fractures in women with low bone mass in the United States. <p> Objective: To estimate the cost-effectiveness (cost per life-year gained and cost per quality-adjusted life-year, QALY,...</p>

Background <p> Economic evaluation of treatments in multiple sclerosis (MS) presents a challenge. The disease affects a number of different body functions and leads to severe disability over time, without however a strong effect on mortality. At onset, the majority of patients will have...</p>

This paper investigates the effects of different health systems on cost efficiency in inpatient health care among the OECD countries. The results indicate that public contract systems are less efficient and that public integrated health systems are more efficient than public reimbursement systems.