"This paper evaluates to what extent the introduction of firing costs can affect the aggregate dynamics of a neoclassical growth model with hetrogeneous establishments. Similarly to the previous literature, firing costs are found to have large steady- state effcts. However, they have no...

"A firm's production activities are often supported by non-production activities. Among these activities are administrative units including headquarters, which process information both within and between firms. Often firms physically separate such administrative units from their production...

"John Law's System was a radical restructuring of French public finances, carried out from 1716 to 1720. It involved on the one hand a conversion of the existing French public debt into something like government equity, on the other hand the replacement of commodity money with fiat money. For...

"The deregulation of the banking industry during the 1990s provides a natural (public policy) experiment for investigating how firms adjust their executive compensation contracts as the environment in which they operate becomes relatively more competitive. Using the Riegle-Neal Act of 1994 as a...

"Data from the NLSY show that more than a quarter of all younger men experience some period of self-employment. Many of them return to wage work. This paper analyzes a simple model of job search and self-employment where self-employment provides an alternative source of income for unemployed...

"This paper examines the location of headquarter growth of large public companies during the 1990s. Headquarters continue to be attracted by large metropolitan areas. Yet among that group they continue to disperse into medium-sized centers. This paper identifies 6 different categories of gross...