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Comments on ‘Labor Market Contracts and Inflation’ by D.J.B. Mitchell and L.J. Kimball.
Casual observation suggests that many contracts in the real world are not of uniform length; for example, recent wage concessions in the United States have lead to termination of union contracts bef...
The Role of Contracts in Macroeconomic Performance.
Incentive problems arise in many economic relationships. Contracts that tie compensation to performance can mitigate incentive problems, but writing completely effective contracts is often impract...
General Motors was once regarded as one of the best managed and most successful firms in the world, but between 1980 and 2009 its share of the US market fell from 62.6 to 19.8 percent, and in 2009 the...
Under current copyright law, Internet Service Providers (ISPs) can be found liable for the traffic on the websites that they host. While the ISPs themselves are not undertaking acts that infringe copy...
Abstract: We analyze the counterparty risk embedded in CDS contracts, in presence of a bilateral margin agreement. First, we investigate the pricing of collateralized counterparty risk and we derive t...
We observe that economic restructuring is significantly changing organizational governance. On the one hand, we witness an increase in mergers & acquisitions, which substitutes markets for hierarchies...
The implementation of China's economic reforms, beginning in the early 80's, and the formal establishment of a "Socialist Market Economy" in the following decade, stimulated substantial changes and im...

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