The Cost of ownership in the governance of interfirm collaborations

This paper investigates the selection of governance forms in interfirm collaborations taking into account the predictions from transaction costs and property rights theories. Transaction costs arguments are often used to justify the introduction of hierarchical controls in collaborations, but the ownership dimension of going from “contracts” to “hierarchies” has been ignored in the past and with it the so called “costs of ownership”. The theoretical results, tested with a sample of collaborations in which participate Spanish firms, indicate that the cost of ownership may offset the benefits of hierarchical controls and therefore limit their diffusion. Evidence is also reported of possible complementarities between reputation effects and forms of ownership that go together with hierarchical controls (i.e. joint ventures), in contrast with the generally assumed substitutability between the two.

Història i llegenda de Bernat I Unifred de Ribagorça

La pràctica consisteix a crear una pàgina web monogràfica sobre Bernat I -Unifred, que va exercir les funcions comtals a la Ribagorça (920 -950) i va generar al voltant de la seva figura la llegenda de Bernat de Ribagorça, entre d'altres. Dins aquest context, es vol relacionar la història amb la llegenda de Bernat de Ribagorça.

Will EMU increase eurosclerosis?

In this paper we study the relationship between labor market institutions and monetary policy. We use a simple macroeconomic framework to show how optimal monetary policy rules depend on labor institutions (labor adjustment costs, and nominal and real wage rigitidy) and social preferences regarding inflation, employment, and real wages. We also calibrate our model tocompute how the change in social welfare brought about by giving up monetary policy as a result of joining the Economic and Monetary Union (EMU) depends on institutions and preferences. We then use the calibrated model to analyze how EMU affects the incentives for labor market reform, both for reformsthat increase the economy's adjustment potential and for those that affect the long-run unemployment rate.

Qui va matar Ramsès III? La resposta és en l'ADN

Egiptòlegs, biòlegs, radiòlegs i patòlegs intervenen en un estudi genètic per reconstruir el gran enigma de com va morir el faraó i quin dels seus fills el va substituir