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Overcoming the common pool problem through voluntary cooperation : the rise and fall of a fishery cooperative
Deacon, Robert T. - 2010
overall catch quota to a voluntary cooperative, with the remainder exploited as a commons by those choosing to fish …
Persistent link: https://www.econbiz.de/10012462317
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Cooperatives vs. Outside Ownership
Hart, Oliver - 1998
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 …
Persistent link: https://www.econbiz.de/10012472387
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Why are Worker Cooperatives So Rare?
Kremer, Michael - 1997
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 …
Persistent link: https://www.econbiz.de/10012472696
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What caused the Asian currency and financial crisis?
Corsetti, Giancarlo; Pesenti, Paolo A.; Roubini, Nouriel - 1998
Persistent link: https://www.econbiz.de/10001350731
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Lessons from the Asian Crisis
Mishkin, Frederic S. - 2000
This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10012470928
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Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis
Kane, Edward J. - 2000
This paper supplies an agency-cost and contestable-markets perspective on the financial policies that triggered the Asian financial crisis. The agency-cost analysis hypothesizes that individual-country regulators knew that politically directed loans had made their banks insolvent, but...
Persistent link: https://www.econbiz.de/10012471262
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Identification through Heteroskedasticity : Measuring "Contagion
Rigobon, Roberto - 2000
In this paper, I develop a new identification method to solve the problem of simultaneous equations, based on heteroskedasticity of the structural shocks. I show that if the heteroskedasticity can be described as a two-regime process, then the system is just identified under relatively weak...
Persistent link: https://www.econbiz.de/10012471283
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Capital Flows in Asia
Ito, Takatoshi - 1999
This paper characterizes the capital flows in Asia before and after the Asian currency crisis of 1997. Differences in …
Persistent link: https://www.econbiz.de/10012471660
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Heterogeneous Paths of Industrialization
Huneeus, Federico - 2020
Industrialization experiences differ significantly across countries. We use a bench-mark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark...
Persistent link: https://www.econbiz.de/10012481434
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A Note on Long-Run Persistence of Public Health Outcomes in Pandemics
Lin, Peter Zhixian - 2020
Covid-19 is the single largest threat to global public health since the Spanish Influenza pandemic of 1918-20. Was the world better prepared in 2020 than it was in 1918? After a century of public health and basic science research, pandemic response and mortality outcomes should be better than in...
Persistent link: https://www.econbiz.de/10012481702