This paper investigates the short run efficiency of wholesale markets within the context of vertical markets. We propose a partial adjustment model to examine the dynamics of the wholesale bid-ask spread and detennine whether this has any impact on hoarding at the wholesale level.
This paper examines the impact of dynamic information acquisition by retailers, on the degree of asymmetric price transmission in vertical markets. We propose a generalization of the extant models of asymmetric price transmission, by endogenising the process of dynamic information acquisition.
Knowledge based industries such as information technologies, financial services and consultancy are increasingly becoming more important for developed as well as developing economies. In India, IT industry has grown at the rate of about fifty percent in domestic as well as export market for the last five years.
Since the economic reforms were launched in 1991, the annual budget of the Union Government has assumed a special aura-as a key signal about the direction of economic policy-or more precisely, as a barometer for liberalization.
A large body of literature has concluded that bond finance of the deficit is unstable because of rising interest payments on the debt. This paper criticizes this literature in detail, focussing on the Blinder-Solow and Sargent-Wallace papers.
Organizations usually consist of multiple internal constituencies and are dependent on numerous external constituencies. Each constituency tries to produce, promote and institutionalize measures of effectiveness that conform to its values and beliefs, and also meet its interests.
How do firms react when an industry faces increased competitive pressures due to trade liberalisation? Firms are believed to bring about changes in their technology, marketing and organisation by reorganisation and redeployment of resources, often through exit process (Buffie and Spiller 1986, Ross 1988).
Both policy makers and managers in developing countries are passing through new challenges in many a fields: labor management, international affairs, business relationships and environmental regulations. Government, Judiciary and public are learning new grounds in decisions related to environment, ecology and policy making (Zartman, 1994).