Incomplete Contracts And The Product Cycle
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Incomplete Contracts And The Product Cycle
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Author : Pol Antras
language : en
Publisher:
Release Date : 2005
Incomplete Contracts And The Product Cycle written by Pol Antras and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Incomplete Contracts And The Product Cycle
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Author : Pol Antràs
language : en
Publisher:
Release Date : 2003
Incomplete Contracts And The Product Cycle written by Pol Antràs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Incomplete contracts categories.
The incomplete nature of contracts governing international transactions limits the extent to which the production process can be fragmented across borders. In a dynamic, general-equilibrium Ricardian model of North-South trade, the incompleteness of international contracts is shown to lead to the emergence of product cycles. Because of contractual frictions, goods are initially manufactured in the North, where product development takes place. As the good matures and becomes more standardized, the manufacturing stage of production is shifted to the South to benefit from lower wages. Following the property-rights approach to the theory of the firm, the same force that creates product cycles, i.e., incomplete contracts, opens the door to a parallel analysis of the determinants of the mode of organization. The model gives rise to a new version of the product cycle in which manufacturing is shifted to the South first within firm boundaries, and only at a later stage to independent firms in the South. Relative to a world with only arm's length transacting, allowing for intrafirm production transfer by multinational firms is shown to accelerate the shift of production towards the South, while having an ambiguous effect on relative wages. The model delivers macroeconomic implications that complement the work of Krugman (1979), as well as microeconomic implications consistent with the findings of the empirical literature on the product cycle.
The Impact Of Incomplete Contracts On Economics
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Author : Philippe Aghion
language : en
Publisher: Oxford University Press
Release Date : 2015-12-22
The Impact Of Incomplete Contracts On Economics written by Philippe Aghion and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.
Incomplete Contracts And The Product Style
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Author :
language : en
Publisher:
Release Date : 2005
Incomplete Contracts And The Product Style written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Handbook Of International Economics
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Author : Gita Gopinath
language : en
Publisher: Elsevier
Release Date : 2014-02-22
Handbook Of International Economics written by Gita Gopinath and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-22 with Business & Economics categories.
What conclusions can be drawn from recent advances in international trade and international macroeconomics? New datasets, theoretical models, and empirical studies have resulted in fresh questions about the world trade and payment system. These chapters--six on trade and six on international macroeconomics--reveal the richness that researchers have uncovered in recent years. The chapters on foreign trade present, among other subjects, new integrated multisector analytical frameworks, the use of gravity equations for the estimation of trade flows, the role of domestic institutions in shaping comparative advantage, and international trade agreements. On international macroeconomics, chapters explore the relation between exchange rates and other macroeconomic variables; risk sharing, allocation of capital across countries, and current account dynamics; and sovereign debt and financial crises. By addressing new issues while enabling deeper and sharper analyses of old issues, this volume makes a significant contribution to our understanding of the global economy. Systematically illuminates and interprets recent developments in research on international trade and international macroeconomics Focuses on newly developing questions and opportunities for future research Presents multiple perspectives on ways to understand the global economy
International Trade Welfare And The Theory Of General Equilibrium
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Author : Sugata Marjit
language : en
Publisher: Cambridge University Press
Release Date : 2018-10-18
International Trade Welfare And The Theory Of General Equilibrium written by Sugata Marjit and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-18 with Business & Economics categories.
This essential volume reflects the continuing and enduring utility of general equilibrium as a framework of analyses. It attempts to reiterate that understanding broad and holistic consequence of economic events and policies go beyond partial equilibrium perspective. Cutting across areas of research, general equilibrium perspectives in terms of small-scale GE models following the theory and perspectives of Ronald Jones can help readers develop informed judgement regarding critical policies. These include but are not limited to several areas of specific interest - the interaction of financial factors with international trade and implications for the 'real sectors' of the economy, the impact of labour market reforms on the unorganised sectors in developing and transition countries, the non-uniform effects of inflation and deflation on internal and external factor flows, and the sought-after relation between foreign investment and skill accumulation.
Global Production
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Author : Pol Antràs
language : en
Publisher: Princeton University Press
Release Date : 2020-10-13
Global Production written by Pol Antràs and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-13 with Business & Economics categories.
Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these frictions influence the world economy. Antràs discusses the inevitable complications that develop in contract negotiation and execution. He provides a unified framework that sheds light on the factors helping global firms determine production locations and other organizational choices. Antràs also implements a series of systematic empirical tests, based on recent data from the U.S. Customs and Census Offices, which demonstrate the relevance of contractual factors in global production decisions. Using an integrated approach, Global Production is an excellent resource for researchers, graduate students, and advanced undergraduates interested in the inner workings of international economics and trade.
Entrepreneurship And Openness
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Author : David B. Audretsch
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Entrepreneurship And Openness written by David B. Audretsch and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
Entrepreneurship is critical to economic growth, but it cannot flourish without open markets. Entrepreneurs can only be expected to take risks in 'open settings' where individuals and firms are free to contract with one another. In this important book, leading economists explain and document the role of open markets, within and across national boundaries, in facilitating entrepreneurship, innovation, and economic growth. The main message of this book is especially timely given growing concerns in developed countries about off-shoring and openness to trade. The book includes discussions of 'star' scientists-entrepreneurs and their positive impacts on local growth, the globalization of venture capital, information technology, entrepreneurship and cities, culture, off-shoring, trade competition and the expansion of world trade. This book will be welcomed by policy makers at all levels of government, university leaders and academic scholars in entrepreneurship, business and management, innovation, economics, sociology and urban economics.
Incomplete Contracts Vertical Integration And Product Market Competition
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Author : Maija Halonen
language : en
Publisher:
Release Date : 1997
Incomplete Contracts Vertical Integration And Product Market Competition written by Maija Halonen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
The Growth Of Chinese Electronics Firms
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Author : K. Kimura
language : en
Publisher: Springer
Release Date : 2014-10-30
The Growth Of Chinese Electronics Firms written by K. Kimura and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-30 with Business & Economics categories.
The Growth of Chinese Electronics Firms outlines the way firms grow in China at an organizational level. Kimura uses China's electronics industry as a case study for measuring technology-fuelled growth and provides a way to understand diversified the growth process systematically.