Corporate organization varies within a country and across countries with country size. The paper starts by establishing some facts about corporate organization based on unique data of 660 Austrian and German corporations. The larger country (Germany) has larger firms with flatter and more decentralized corporate hierarchies compared to the smaller country (Austria). Firms in the larger country ...

One type of regulation that has recently started to attract the attention of policymakers regarding artisanal fisheries is that of Territorial Use Rights (commonly known as TURFs in the literature). TURFs basically consist in the allocation of fishing rights to individuals and/or groups to fish in certain geographical locations. A requisite for these communities to be granted fishing rights is ...

Agents may commit a crime twice. The act is inefficient so that the agents are to be deterred. The agents are wealth constrained so that increasing the fine for the first offense means a reduction in the sanction for the second offense and vice versa. The agents may follow history dependent strategies. The government seeks to minimize the probability of apprehension. The optimal sanction scheme...

We have optimized the lowest energy structures and calculated interaction energies for the CO(2)-Ar, CO(2)-N(2), CO(2)-CO, CO(2)-H(2)O, and CO(2)-NH(3) dimers with the recently developed explicitly correlated coupled cluster singles doubles and perturbative triples [CCSD(T)]-F12 methods and the associated VXZ-F12 (where X = D,T,Q) basis sets. For a given cardinal number, we find that results ob...

In many globalized industries, the recent wave of vertical outsourcing seems to have co-evolved with increased horizontal consolidation in the component sector. To account for this phenomenon, I build an industry-equilibrium model in which the boundaries of the firm are endogenous in both the horizontal and vertical dimensions of production. This setup allows me to solve for the equilibrium con...

This paper analyses the role of product differentiation in firms’ choices between exporting and foreign direct investment as ways to supply overseas markets. When the degree of product differentiation is exogenously fixed, we show that the overseas firm favors exporting at low and high degrees of product differentiation while local production is favored at intermediate values: there can be a “d...

This paper analyses the consequences of trade liberalisation on firms’ internal organisation, with formal and informal arrangements. I extend the ’relational contract’ approach of Baker, Gibbons, and Murphy (2002) in an open economy set-up. I find that freer trade in final goods increases the quasi-rents from suppliers’ specific investments, leading to an increase in outsourcing. When trade lib...

This paper studies steady-state, Markov-Perfect strategic trade policy when (infinitely lived) governments are committed to trade policy during two periods. We compare the case in which both governments choose their export subsidies in the same periods (synchronization) versus the case in which they set them in alternate periods (staggering). We find that, under Cournot competition, welfare is ...