In this article, we offer a supply-side explanation of two striking patterns in European unemployment as compared with that of other member countries of the OECD (Organization for Economic Cooperation and Development). (See figure 1 and table 1.) The first pattern is that of average unemployment rates. These were similar for European and non-European OECD countries during the 1960s and 1970s, b...

On the Internet there are publishers (the supply side) who provide free contents (e.g., news) and services (e.g., email) to attract users. Publishers get paid by selling ad displaying opportunities (i.e., impressions) to advertisers. Advertisers then sell products to users who are converted by ads. Better supply side revenue allows more free content and services to be created, thus, benefiting ...

To come from the Bank of England to speak to the Society of Business Economists is to be a nominal economist among real economists. Businesses like yours and those who work in them are the real economythe supply sidethe workings of which ultimately determine the paths of real economic variables such as output growth, employment and productivity. The Bank’s paramount monetary policy objective ...

Using a model of dynamic price competition, this paper provides an explanation from the supply side for the well-established observation that retail prices adjust faster when input costs rise than when they fall. The opportunity of profitable storing for the next period induces competitive firms to immediately increase their prices in anticipation of higher future input costs. This relaxes comp...

This paper is concerned with finding first-best tolls in static transportation networks with day-to-day variation in network capacity, as accounted for by changes in the volume-delay function. The key question in addressing this problem is that of information, namely, which agents have access to what information when making decisions. In this work, travelers are assumed to be either fully infor...

Flexibility in response to competitive pressure from globalized markets and increasingly individualized customer desires has become vital for firms. A common strategy to address this challenge is to employ a dynamic concept of organization and reach beyond the boundaries of the firm. Accordingly, technology transfer from providers of knowledge intensive business services attracts more and more ...