National and multinational companies coexist in many sectors of all developed countries. However, economic models fail to reproduce this fact because of the assumption of symmetry between companies. To show that the symmetry assumption is the reason for this failure, a two-country general...

This paper seeks to contribute to the ongoing controversy on the distributional effects of structural reforms in developing countries. To this end, we set up a small-scale macroeconomic model of a dual economy to capture the transmission mechanisms through which the deregulation of product and...

Die vorliegende Untersuchung stellt die technischen Grundlagen und die Marktordnung für den internationalen Handel mit Dienstleistungen der Informationstechnologie dar; sie analysiert und bewertet die resultierenden Handelsbarrieren. Die Funktionsweise des Internets (Netzaufbau, Adress- und...

Die vorliegende Untersuchung stellt die technischen Grundlagen und die Marktordnung für den internationalen Handel mit Telekommunikationsdienstleistungen dar; sie analysiert und bewertet die resultierenden Handelsbarrieren. Die Grundstruktur internationaler Telekommunikation wird in...

This paper discusses environmental policies in response to foreign direct investment (FDI) in a symmetrie two-country setting, where firms' behavior affects government policy decisions. We show that two alternative equilibria with FDI are possible: (i) one with unilateral FDI, where one firm is...

This study seeks to explain why crude oil prices fluctuate, the main cause being the quota regime, which characterises the OPEC agreements. Given that the Saudi oil supply is inelastic in the short term, a shock in the oil market is accommodated by an immediate price change. In contrast, a...

This paper surveys empirical and theoretical studies of various control mechanisms embedded in venture capital contracts. These mechanisms mitigate incentive problems and opportunistic behavior arising in the uncertain environment of financing young hightechnology enterprises that predominantly...

The relationship between a venture capitalist and an entrepreneur is modeled to investigate the impact of public subsidies on venture capital investments in start-up enterprises. In this model, the venture capitalist only finances start-up enterprises if he has sufficient expertise to make...

Since naturally occurring genetic information serves as a valuable input for biotechnological R&D, the private provision of genetic resources could generate income for the protection of biodiversity-rich areas. However, there has been a controversy over whether these potential revenues are...