The most efficient labour market mechanism depends on the advantages of specialization, workers’ costs of switching between entrepreneurs, and the frequency with which needs change. Multilateral mechanisms are more efficient when specialization is more advantageous, when it is cheap for workers to switch between entrepreneurs, and when individual entrepreneurs cannot occupy a worker on a full-time basis. Given a bilateral mechanism, employment (a firm) is more efficient than contracts when in-process adjustments arise more frequently. There exist three regions in which firms, markets and sequences of bilateral contracts are weakly more efficient than all other mechanisms in a big class
We present a tractable framework for the analysis of the relationship between contract incom-pletene...
We generalize Krugman's (1979) ‘new trade’ model by allowing for an explicit production chain in whi...
Impact of coordination costs and market size on a firm’s choice of technology is studied in a genera...
The most efficient labor market mechanism depends on the advantages of specialization, workers ’ cos...
In this paper a general equilibrium model is constructed to explain the emergence of firms and chang...
This paper proposes a simple theory of international trade with endogenous productivity differences ...
This paper investigates the impacts of progressive trade openness, technological externalities, and ...
How market size and the level of coordination costs determine the degree of specialization is studie...
We generalize Krugman's (1979) "new trade"model by allowing for an explicit production chain in whi...
Empirical work has drawn attention to the high degree of productivity differences within industries,...
This paper proposes a simple theory of international trade with endogenous technological differences...
This paper presents a model of international trade that features heterogeneous firms, relative endow...
A firm’s degree of specialization is modeled as the number of different goods it produces. When a fi...
When firms cluster in the same local labor market, they face a trade-off between the benefits of lab...
We propose occupational decisions of heterogeneous individuals as an alternative mechanism of explai...
We present a tractable framework for the analysis of the relationship between contract incom-pletene...
We generalize Krugman's (1979) ‘new trade’ model by allowing for an explicit production chain in whi...
Impact of coordination costs and market size on a firm’s choice of technology is studied in a genera...
The most efficient labor market mechanism depends on the advantages of specialization, workers ’ cos...
In this paper a general equilibrium model is constructed to explain the emergence of firms and chang...
This paper proposes a simple theory of international trade with endogenous productivity differences ...
This paper investigates the impacts of progressive trade openness, technological externalities, and ...
How market size and the level of coordination costs determine the degree of specialization is studie...
We generalize Krugman's (1979) "new trade"model by allowing for an explicit production chain in whi...
Empirical work has drawn attention to the high degree of productivity differences within industries,...
This paper proposes a simple theory of international trade with endogenous technological differences...
This paper presents a model of international trade that features heterogeneous firms, relative endow...
A firm’s degree of specialization is modeled as the number of different goods it produces. When a fi...
When firms cluster in the same local labor market, they face a trade-off between the benefits of lab...
We propose occupational decisions of heterogeneous individuals as an alternative mechanism of explai...
We present a tractable framework for the analysis of the relationship between contract incom-pletene...
We generalize Krugman's (1979) ‘new trade’ model by allowing for an explicit production chain in whi...
Impact of coordination costs and market size on a firm’s choice of technology is studied in a genera...