A major theoretical objection against employee ownership is that workers become inadequately diversified and exposed to excessive financial risk. Recent theory concludes that 10-15% of a worker's wealth portfolio can be prudently invested in employer stock provided the rest of the portfolio is...

A series of observations on various types of cooperatives is constructed from intermittent surveys between 1920 and 1950 and, where possible, these are extended to recent years. These observations allow several questions to be taken up: how well have organizations that resemble consumers'...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

This paper examines the impact of manufacturing employment on women's health and decision-making power within households in Lesotho. Under the US African Growth and Opportunity Act of 2000, the employment of women in ready-made garment (RMG) factories in new industrial zones greatly increased....

Different theoretical explanations suggest that worker-managed firms (WMFs) are prone to failure in competitive environments. Using a long panel of Uruguayan firms, the author presents new evidence on firm survival comparing WMFs and conventional firms. Excluding microenterprises and controlling...

Different theoretical explanations suggest that worker-managed firms (WMFs) are prone to failure in competitive environments. Using a long panel of Uruguayan firms, the author presents new evidence on firm survival comparing WMFs and conventional firms. Excluding microenterprises and controlling...

This study evaluates the effect of a financial education program on migrants, emphasizing the importance of inter-institutional cooperation. The Italian case study, the "Welcome-ED" project—a partnership between the Municipality of Turin and the Turin Museum of Savings (MoS)—aimed to provide...

The paper surveys the methodology of generational accounting, a tool for gauging intertemporal imbalance in government finances facing demographic transition. Starting from the fiscal balance rule providing the theoretical background, we review the methods of generational accountants for...

The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...

Immigration has become recently one of the most important subjects in socio-economic debates. In many countries immigrants are commonly presented as a threat to host economies and societies. On top of this fiscal impacts of immigration are ones of the hottest and most controversial topics in...