This paper analyzes the impact of competition among downstream firms on an upstream firm's payoff and on its incentives to vertically integrate when firms on both segments negotiate optimal contracts. The author argues that tougher competiton decreases the downstream industry profit, but...

Cet article propose un examen des effets de la mondialisation sur la volatilite macroeconomique des pays occidentaux, dans le care d'un modele stochastique d'equilibre general dynamique a deux pays et deux biens. Ces pays se distinguent essentiellement par les proportions de travailleurs...

Central to an understanding of how foreign exchange markets work is the nature of the expectations formation process. Of particular interest are the potentially stabilising of destabilising nature of these expectations. In this paper we use a unique disaggregate expectations data base to model...