Publisher Summary This chapter focuses on institutions and policy coordination. A large
portion of international macroeconomics deals with the international transmission of national …

This article reviews the strategic delegation literature and provides a theoretical framework
that integrates this perspective into management research. The strategic delegation …

We present a mechanism based on managerial incentives through which common
ownership affects product market outcomes. Firm-level variation in common ownership …

We propose a model with micropolitical foundations to contrast different political regimes.
Compared to a parliamentary regime, the institutions of a presidential-congressional regime …

Principal-agent relationships are typically assumed to be motivated by efficiency gains from
comparative advantage. However, principals may also delegate tasks to avoid taking direct …

This book presents a theory of the firm based on its economic role as an intermediary
between customers and suppliers. Professor Spulber demonstrates how the intermediation …

This study analyzes a two-country dynamic general equilibrium model with nominal
rigidities, monopolistic competition and producer currency pricing. A quadratic …

The Theory of the Firm presents a path-breaking general framework for understanding the
economics of the firm. The book addresses why firms exist, how firms are established, and …

The assumption that decision makers choose actions to maximize their preferences is a
central tenet in economics, often justified formally or informally by appealing to evolutionary …

We analyze risk allocation and contractual choices when public procurement is plagued with
moral hazard, private information on exogenous shocks, and threat of corruption. Complete …