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Articles 1 - 3 of 3
Full-Text Articles in Economics
Fixed Costs And The Division Of Labor, Haiwen Zhou
Fixed Costs And The Division Of Labor, Haiwen Zhou
Economics Faculty Publications
How market size and the level of coordination costs determine the degree of specialization is studied in an infinite horizon model with the amount of capital determined endogenously. Firms producing the same intermediate good engage in oligopolistic competition and choose the degree of specialization of their technologies to maximize profits. A more specialized technology is a technology with a lower marginal cost, but a higher fixed cost. Interestingly, the relationship between the level of coordination costs and a firm’s degree of specialization is ambiguous. A firm in a country with a larger market size, more patient citizens, or a higher …
Local Fiscal Adjustments From Depopulation: Evidence From The Post–Cold War Defense Contraction, Timothy M. Komarek, Gary A. Wagner
Local Fiscal Adjustments From Depopulation: Evidence From The Post–Cold War Defense Contraction, Timothy M. Komarek, Gary A. Wagner
Economics Faculty Publications
In this paper, we estimate the long-term causal effect of population losses on local government revenue, expenditure, and debt by exploiting a quasi-exogenous change that reduced the number of US military personnel by about 40 percent between the late 1980s and 2000. Aggregating across governmental units within commuting zones, we find that real per capita total revenues and expenditures remained unchanged for remaining citizens. At the same time, however, we note several important compositional effects. First, local governments appear to have offset reductions in state intergovernmental aid by increasing property tax revenues. Second, they significantly shifted the composition of expenditures …
"Letters", James V. Koch, Seth Forman
"Letters", James V. Koch, Seth Forman
Economics Faculty Publications
No abstract provided.