Colander (2000) suggests that students often fail to recognise the passion and excitement of economics because of the way that we teach economic stories. In his view, using formal models at the principles level to analyse macro stories makes the stories boring. We suggest that some models,...

Economics for Policy: Expanding the Boundaries. Essays by Peter Gorringe. Edited by Arthur Grimes, Alan Jones, Roger Procter and Grant Scobie, Wellington, Institute of Policy Studies, 2001 265pp, ISBN: 0-908935-53-6

Taking New Zealand Seriously: the Economics of Decency, by Tim Hazledine, Harper-Collins (Auckland) 1998, 237pp. ISBN 1 86950 283 3 The Role Of Government In East Asian Economic Development, Masahiko Aoki, Hyung-Ki Kim and Masahiro Okuno-Fujiwara (eds) (Clarendon Press, Oxford, 1997), 448pp....

We offer a model that sheds light on the debate over whether corporate ownership concentration converges to the Berle-Means image. Our model takes into account the importance of both legal rules and firm-specific arrangements. Our analytical result is that share ownership concentration either...