Reallocation of Capital and Labor within Firms

Understanding how internal capital and labor markets function sheds light on one of the most fundamental questions in economics: what determines the boundaries of the firm? This essay reviews the theoretical and empirical literature on internal capital markets and firm boundaries, focusing in partic...

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Bibliographic Details
Published inSchweizerische Zeitschrift für Volkswirtschaft und Statistik Vol. 152; no. 4; pp. 289 - 303
Main Author Mueller, Holger
Format Journal Article
LanguageEnglish
Published Heidelberg Springer 01.10.2016
Springer International Publishing
Springer Nature B.V
SpringerOpen
Subjects
boundaries of the firm
capital and labor reallocation
Capital markets
Economics
Economics and Finance
internal capital markets
Labor market
Statistics
boundaries of the firm
D23
G31
internal capital markets
capital and labor reallocation
G32
Online AccessGet full text
ISSN2235-6282
2235-6282
DOI10.1007/BF03399429

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Summary:Understanding how internal capital and labor markets function sheds light on one of the most fundamental questions in economics: what determines the boundaries of the firm? This essay reviews the theoretical and empirical literature on internal capital markets and firm boundaries, focusing in particular on the close link between the two subjects. Emphasis is placed on the question of how firms reallocate capital and labor internally across individual firm units in response to plausibly exogenous shocks. The essay concludes with directions for future research.
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ISSN:2235-6282
2235-6282
DOI:10.1007/BF03399429