Journal Article

Longitudinal and Life Course Studies:

Young British adults homeownership circumstances and the role of intergenerational transfers

Ellie Suh

Despite the continuing preference for homeownership, it has become increasingly difficult for young adults to own a home in Britain. House prices have increased faster than real earnings between the mid-1990s and the 201...Read more...

Political Economy and Public Policy Paper

BEING THE NEW YORK TIMES: THE POLITICAL BEHAVIOUR OF A NEWSPAPER

Riccardo Puglisi

I analyze a dataset of news from the New York Times, from 1946 to 1997. Controlling for the incumbent President's activity across issues, I find that during the presidential campaign the New York Times gives more emphasi...Read more...

Theoretical Economics Paper

Ownership and Managerial Competition: Employee, Customer, or Outside Ownership

Patrick Bolton and Chenggang Xu

This paper centres around the question of ownership of firms and managerial competition and how these affect manager and employees' incentives to invest in human capital. We argue that employee's incentives in human capi...Read more...

Theoretical Economics Paper

Ownership, Incentives and Monitoring

Chong-En Bai and Chenggang Xu

This paper studies the effect of ownership structure on workers' incentives for investing in firm-specific human capital. Particularly, we analyse such incentivers and monitoring under employee ownership and capitalist o...Read more...

Theoretical Economics Paper

The Property-Rights Theory of the Firm with Endogenous Timing of Asset Purchase

Ben Lockwood and David de Meza

The standard property-rights theory of the firm assumes that prior to investing in human capital, team members meet and negotiate asset ownership. This paper endogenizes the event sequence in a matching model of market e...Read more...

Theoretical Economics Paper

Cooperatives vs. Outside Ownership

Oliver Hart and John Moore

We are concerned with the design of a constitution for a firm - an ex ante contract which assigns residual rights of control (and possibly residual income rights) without reference to the issue to be decided. We focus at...Read more...

Theoretical Economics Paper

Reputation and Allocation of Ownership

Maija Halonen

We show that allocation of ownership matters even in a long-term relationship where problems of opportunism are less severe unless agents are very patient. Ownership structure is chosen to give the agents best incentives...Read more...