JEL classification: F15 F23 H25 H73 We set up a model of generalised oligopoly where two countries of different size compete for an exogenous, but variable, number of identical firms. The model combines a desire by national governments to attract internationally mobile firms with the existence of location rents that arise even in a symmetric equilibrium where firms are dispersed. As economic in...

We consider a two-country model of wage determination with private information in unionized, imperfectly competitive, industries. We investigate the effects of opening up markets to trade as well as of further market integration on the negotiated wage and the maximum delay in reaching an agreement. From an initial situation of two-way intraindustry trade, an increase in product market integrati...

Department of Economics, University of Isfahan, Iran   Ahmad Googerdchian   Assistant Professor, Department of Economics, University of Isfahan, Iran     Abstract   Implementing a currency :::union::: may lead members to face financial crisis if their financial markets are not ready to adopt themselves to a new situation. There are still problems like ownership concentration and self-gover...

The mechanism of CO hydrogenation to CH4 at 260 °C on a cobalt catalyst is investigated using steady-state isotopic transient kinetic analysis (SSITKA) and backward and forward chemical transient kinetic analysis (CTKA). The dependence of CH x residence time is determined by 12CO/H2 → 13CO/H2 SSITKA as a function of the CO and H2 partial pressure and shows that the CH4 formation rate is mainly ...

We investigate the process of galaxy formation as can be observed in the only currently forming galaxies – the so-called Tidal Dwarf Galaxies, hereafter TDGs – through observations of the molecular gas detected via its CO (Carbon Monoxide) emission. Molecular gas is a key element in the galaxy formation process, providing the link between a cloud of gas and a bona fide galaxy. We have now detec...

We analytically characterize the effects of ownership and competition in the health care industry on quality provision, market coverage and optimal co-payment policy. A private monopoly selects a lower quality than a public supplier, and the socially optimal co-payment rate with a private monopoly exceeds that with a public monopoly. We establish that the optimal co-payment policy is invariant ...

Field Editor: G. Cassar Wedocument the role of entrepreneurial founder and venture capital (VC) partner co-ethnicity in shaping investment relationships. Co-ethnicity increases the likelihood that a VC firm invests in a company. Conditional on investment, co-ethnicity strengthens the degree of involvement by raising the likelihood of VC board of director involvement and increasing the size and ...

Did the unification of commercial and investment banking heighten risk in financial markets due to moral hazard of borrowers? In a simple intertemporal model with moral hazard and uninsured risk, we argue that if financial contracts are properly written, the integration in financial markets could give rise to greater risk sharing arrangement and could eliminate the equity risk premium attribute...

Using a model of vertical product differentiation, we show under what institutional circumstances welfare gains will be maximized as economies integrate and harmonize labeling and certification policies for credence goods. Specifically, we show that harmonized mandatory, exclusive discrete labeling will not maximize the gains from economic integration, i.e., the choice of labeling regime can ha...