Tension between efficiency and equity is fundamental to every economy. Historical differences between groups translate into inequality in skills and hence earnings. Measures to correct inequalities affect incentives and misallocate talent, therefore compromising efficiency. This paper examines...

Academics and regulators have given significant attention to the impact of institutional investors on the companies in which they invest. Some are concerned that the institutional investors act as common owners. But in their active ownership policies institutional investors often say they are...

How does the bargaining power of firms affect trade policy? We address this question in an international, bilateral oligopoly setting where the Home country specializes in final goods and the Foreign country specializes in intermediate inputs. A matched Home-Foreign pair bargains simultaneously...