| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3687 |
| DP3687 Recession Aversion, Output and the Kydland-Prescott Barro-Gordon Model | |
| Stefan Gerlach | |
| 发表日期 | 2003-01-28 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | What is the role of firms and markets in mediating the division of labour? This Paper uses confidential microdata from the Census of Services to examine law firms' boundaries. We first examine how the specialization of lawyers and firms increases as lawyers' returns to specialization increase. In fields where lawyers increasingly specialize with market size, the relationship between the share of lawyers who work in a field-specialized firm and market size indicates whether firms or markets more efficiently mediate relationships between lawyers in this and other fields. We then examine which pairs of specialists tend to work in the same versus different firms; this provides evidence on the scope of firms that are not field-specialized. We find that whether firms or markets mediate the division of labour varies across fields in a way that corresponds to differences in the value of cross-field referrals, consistent with Garicano and Santos' (2001) proposition that firms facilitate specialization by mediating exchanges of economic opportunities more efficiently than markets. |
| 主题 | Industrial Organization |
| 关键词 | Industry structure Theory of the firm Specialization Law firms Legal services Economics or organization |
| URL | https://cepr.org/publications/dp3687 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532714 |
| 推荐引用方式 GB/T 7714 | Stefan Gerlach. DP3687 Recession Aversion, Output and the Kydland-Prescott Barro-Gordon Model. 2003. |
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