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作者：Ottaviano, G; Tabuchi, T; Thisse, JF
作者单位：Bocconi University; University of Tokyo; Universite Catholique Louvain
摘要：The purpose of this article is twofold. First, we present an alternative model of agglomeration and trade that displays the main features of the recent economic geography literature while allowing for the derivation of analytical results by means of simple algebra. Second, we show how this framework can be used to permit (i) a welfare analysis of the agglomeration process, (ii) a full-fledged forward-looking analysis of the role of history and expectations in the emergence of economic clusters...
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作者：Boadway, R; Cuff, K; Marceau, N
作者单位：Queens University - Canada; McMaster University; University of Quebec; University of Quebec Montreal
摘要：Regions inhabited with an immobile population of disabled and able individuals compete to attract mobile firms that provide jobs. The redistributive goal of regional governments is to support the disabled, who cannot work. Able individuals may work, be involuntary unemployed because of frictions in the labor market, or choose to be voluntary unemployed. Labor force participation decisions depend on regional redistributive policies. Both the size of workforce and tax on firms affect profits and...
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作者：Vercammen, J
作者单位：University of British Columbia
摘要：A model of simultaneous adverse selection and moral hazard in a competitive credit market is developed and used to show that aggregate borrower welfare may be higher in the combined case than in the moral-hazard-only case. Adverse selection can be welfare improving because in the pooling equilibrium of the combined model, high-quality borrowers cross subsidize low-quality borrowers. The cross subsidization reduces the overall moral hazard effort effects, and the resulting gain in welfare may m...
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作者：Shi, SY
作者单位：Indiana University System; Indiana University Bloomington
摘要：Using directed search to model the product market and the labor market, I show that large plants can pay higher wages to homogeneous workers and earn higher expected profit per worker than small plants, although plants are identical except size. A large plant charges a higher price for its product and compensates buyers with a higher service probability. To capture this size-related benefit, large plants try to become larger by recruiting at high wages. This size-wage differential survives lab...
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作者：De Waegenaere, A; Polemarchakis, H; Ventura, L
作者单位：Tilburg University; Brown University; Sapienza University Rome; Universite Catholique Louvain
摘要：In an incomplete asset market, firms assign values to investment plans by projecting their payoffs on the span of the payoffs of marketed assets. This is a criterion that does not require firms to possess information, such as the marginal valuation of revenue across date-events by shareholders, which is not directly observable; rather, it is based on the prices and payoffs of marketed assets. Under standard assumptions, competitive equilibria exist. However, even in the absence of nominal asse...
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作者：van der Klaauw, W
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：An important problem faced by colleges and universities, that of evaluating the effect of their financial aid offers on student enrollment decisions, is complicated by the likely endogencity of the aid offer variable in a student enrollment equation. This article shows how discontinuities in an East Coast college's aid assignment rule can be exploited to obtain credible estimates of the aid effect without having to rely on arbitrary exclusion restrictions and functional form assumptions. Semip...
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作者：Armantier, O
作者单位：State University of New York (SUNY) System; Stony Brook University
摘要：In the application of auction theory to the real world, practitioners must choose ex ante which of the common value or the private values paradigm applies. Since intuition may fail, some authors have proposed to decide statistically between the two models. These studies, however, did not confirm whether the tests validated the true model since field data were used. I propose to use experimental data as well as Monte-Carlo simulations to study different nonstructural rules to decide between the...
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作者：Kocherlakota, N
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：In this article, I consider environments in which all shocks have finite support and any transfer of resources is ex post voluntary. Consider an allocation that is achievable when potential trading partners know each others' histories. The one-money theorem says that the allocation is achievable using only one money if that money is divisible and money holdings are observable. The two-money theorem says that the allocation is achievable using two divisible monies, even if money holdings are co...
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作者：Goh, AT; Olivier, J
作者单位：Hautes Etudes Commerciales (HEC) Paris; Centre for Economic Policy Research - UK
摘要：This article addresses the issue of optimal patent protection in an economy with a downstream and an upstream sector. The key insight is that higher patent protection in the downstream sector raises the incentives of agents to do R&D in that sector but discourages innovation in the upstream sector because of a market size effect. Hence, higher patent protection in the upstream sector accelerates growth whereas higher patent protection in the downstream sector slows it down. If some innovation ...
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作者：Choi, JP
作者单位：Michigan State University
摘要：This article develops an incomplete contract model of the licensing relationship to analyze the dynamic effects of licensing on R&D competition in the innovation market and to examine the rationale for often observed grant-back clauses. Of particular concern are how the consideration of future competition distorts the licensing relationship and how the grant-back clause can mitigate this distortion. I also evaluate the validity of the casual antitrust argument that grant-back clauses may adver...
