With reference to Lambertini (2003), Lin (2004) correctly points out that, if R&D efforts for process innovation are endogenous, then process and product R&D are strategic complements. Then, he also proves that the opposite holds when spillovers are nil. Objecting to Lin’s second claim, I show that monopoly profits are everywhere increasing in the extent of information sharing within the firm. ...

An open reading frame encoding a member of the L16 family of ribosomal proteins is adjacent to the URA7 gene on the left arm of chromosome II in Saccharomyces cerevisiae. The predicted L16-like polypeptide is basic (pl 11.12), contains 232 amino acids (26.52 kDa) and has 36% amino acid sequence identity to E. coli L16. Immunoblot analysis with polyclonal antibodies to the L16-like polypeptide s...

Motivated by recent antitrust cases in markets with zero-pricing, we develop a leverage theory of tying two-sided markets. In the presence nonnegative price constraint, Chicago school critique tie-ins fails to hold. independent products case, provides mechanism circumvent constraint tied market without inviting aggressive responses rival firm. complementary “price squeeze” cannot be used extrac...

We show that during the Great Recession, more-flexible sectors paid lower sectoral bond spreads. rationalize this fact with a model input-output linkages, heterogeneous elasticities, and binding working capital constraints in use of intermediates. difference flexibility between upstream downstream is key for determining role linkages amplifying or mitigating distortions. Calibrating to US econo...

I study how the relative efficiency of high- and low-skill labor varies across countries. Using microdata for countries at different stages development, document that differences in quantities wages are consistent with high-skill workers being relatively more productive rich exploit variation skill premia foreign-educated migrants to discriminate between two possible drivers this pattern: cross...

Based on the institutional perspective, this article examines whether pressures in home and host countries affect multinational enterprise (MNE) subsidiaries’ corporate social responsibility (CSR) practices distance between moderates these relationships. We collect data from 185 Chinese MNEs’ 349 foreign subsidiaries operating 27 conduct a cross-classified multilevel model analysis of data. The...

This paper studies a model of product variety with flexible manufacturers when, contrary to prior work, atomistic entry occurs prior to horizontal integration. In this model, more lax antitrust laws that allow for fewer and more concentrated merged firms lead to a greater extent of excess entry. Optimal policy permits no horizontal mergers when demand is perfectly inelastic, but may permit some...