The Internal Organization of the Firm, Transaction Costs and Macroeconomic Growth
This paper proposes an analysis of the links between the internal organization of firms and macroeconomic growth. We present a Schumpeterian growth model in which firms face agency costs. These agency costs are due to the existence of asymmetries of information and the formation of internal vertical collusions. As a response to the opportunity of internal collusion optimal incentive contracts depend on the efficiency of collusive side contracting within organizations.
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|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: Chaire d'economie et d'econometrie de l'assurance; DELTA; CREST; PARIS, France.|
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