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Distortions, Endogenous Managerial Skills and Productivity Differences
distortions size skill investments productivity differences
2012/10/23
We develop a span-of-control model where managerial skills are endogenous and the outcome of investments over the life cycle of managers. We calibrate this model to U.S plant-size data to quantify the...
Market Distortions and Local Indeterminacy: A General Approach
indeterminacy endogenous fluctuations market imperfections externalities imperfect competition taxation
2012/10/31
We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are ...