overall catch quota to a voluntary cooperative, with the remainder exploited as a commons by those choosing to fish …

case of perfect competition, an outside owner achieves the first-best; a cooperative typically does not because the rent …'s preferences may not reflect average preferences. Second, in the case where the members of a cooperative have common preference …

distorts incentives. I assume that employment contracts are incomplete. In the model cooperative members pay in a capital … function of output. If the median member has less than average ability, the cooperative will vote for a redistributive schedule …, cooperative members will be reluctant to leave, since this entails forfeiting the dividends on their capital contribution. The …

capital and trust (Banfield (1958), Putnam (1993)) across different parts of Italy, using microeconomic data on households and …

This paper examines the regional distribution of public employment in Italy. It documents two sets of facts. This first … the wage bill in the South of Italy can be identified as a subsidy. Both the size of public employment and the level of …

implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we …

pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …

and Sweden experience the lowest earnings declines following job displacement, while workers in Italy, Spain, and Portugal …