Archaeology and numismatics have long been familiar with the phenomenon of periodic re-coinage (renovatio monetae), which dominated monetary taxation in medieval Europe for almost 200 years. However, this form of monetary taxation is seldom, if ever, discussed in the literature of economics or...

In the 1980s, there was a huge increase in the outflow of foreign direct investment from Sweden to the EC. The EC market is the most important for Swedish firms and it is during the last decade that EC has undergone major changes. This paper uses a unique data set on individual Swedish MNCs for...

When and how do entrepreneurs sell their inventions? To address this issue, we develop an endogenous entry-sale asymmetric information oligopoly model. We show that lowquality inventions are sold directly or used for entry. Inventors who sell post-entry use entry to credibly reveal information...

Inventors generally know more about their inventions than what is written down in patent applications. Because they possess this tacit knowledge, inventors may need to play an active role when patents are commercialized. We build on Arora (1995) and model firm-inventor cooperation in the...

Gesell taxes on money have recently received attention as a way of alleviating the zero lower bound on interest rates. Less known is that such taxes were an important method for generating seigniorage in medieval Europe for around two centuries. When a Gesell tax was levied, current coins ceased...

Using unique data on Swedish multinationals 1974-1990, the impacts of overseas production on parent exports are analyzed. Two methodological applications are introduced: (i) In order to avoid sample selection bias, The model includes also countries to which the firm exports, but has not...

A specific monetary tax − called periodic re-coinage − was applied for almost 200 years in large parts of medieval Europe. Old coins were frequently declared invalid and exchanged for new ones based on publicly announced dates and exchange fees. A theoretical framework of how periodic...

Consulting firms (CFs) sell services on a project basis to many clients and must therefore continuously tender for new contracts. One frequently used strategy by CFs is to visit the clients in connection to the tenders. The reasons to the visits are: (1) to influence the client in his...

According to Schumpeter, the creative process of economic development can be divided into three distinguishable stages of invention, innovation (commercialization) and imitation. We show why there is a rationale for the Schumpeterian entrepreneur to also include the inventor in the innovation...

External financing is important when inventors and small technology-based firms commercialize their inventions. However, the private information of inventors about the quality of their products causes information asymmetries and moral hazard problems. To help compensate for potentially...