Showing 41 - 50 of 633
Persistent link: https://www.econbiz.de/10003353418
A large literature has documented impressive productivity growth in China's state enterprises during the reform. The evidence has been used to support the view that China's enterprise reform has been successful. We cast doubt on this view by arguing that productivity is not a reliable measure of...
Persistent link: https://www.econbiz.de/10005102716
Persistent link: https://www.econbiz.de/10005224835
Persistent link: https://www.econbiz.de/10007686729
No abstract.
Persistent link: https://www.econbiz.de/10005328630
During transition, maintaining employment and providing a social safety net for the unemployed are important to social stability, which in turn is crucial for the productivity of the whole economy. Because independent institutions for social safety are lacking and firms with strong profit...
Persistent link: https://www.econbiz.de/10005504537
We construct an agency model in which the planner (agent) makes project starting and termination decisions on behalf of the state (principal) to reflect the practice of socialist economies. The model shows that asymmetric information between the state and the planner regarding the quality of...
Persistent link: https://www.econbiz.de/10005489869
This paper studies the soft budget constraint problem in a principal-agent model. The agent screens projects of and makes initial investment in the projects that have passed the screening. He then finds the types of the funded projects and decides to close some of the ex post inefficient ones...
Persistent link: https://www.econbiz.de/10004968849
An equilibrium model of labor contracts under asymmetric information is developed. A profit-maximizing firm offers a wage but retains the right to lay off the worker based on its private observation of the worker's productivity ex post. The worker invests in specific human capital, unobservable...
Persistent link: https://www.econbiz.de/10005053274
Local governments (LGs) are seen as producers of the local public good ('the good'). An authoritarian country is one in which the government decides if the good should be produced and how much to tax to finance it, as versus a democracy in which voters decide. This paper identifies conditions...
Persistent link: https://www.econbiz.de/10005784727