Title:Sovereignty without Borders: On Individual Rights, the Delegation to Rule, and Globalization
Author(s):SGARD, Jérôme; BROUSSEAU, Eric; SCHEMEIL, YvesDate:2011-05-23Type of Publication:Working PaperSeries/Report no.:EUI RSCASAbstract:Just as medieval municipal republics surrendered to national sovereigns in the past, incumbent states
may be replaced in the future by an alternate, global public order. Citizens and merchants would
obtain more equal ...
Title:Stable Sunspot Equilibria in a Cash-In-Advance Economy
Author(s):EVANS, George W.; HONKAPOHJA, Seppo M. S.; MARIMON, RamonDate:2007Type of Publication:ArticleAbstract:We analyze a monetary model with flexible labor supply, cash-in-advance constraints, and seigniorage- and tax-financed government spending. If the intertemporal elasticity of substitution of labor is greater than one, both ...
Title:Stakeholder Capitalism, Corporate Governance and Firm Value
Author(s):ALLEN, Franklin; CARLETTI, Elena; MARQUEZ, RobertDate:2009-09-01Type of Publication:Working PaperSeries/Report no.:Wharton Financial Institutions CenterAbstract:In countries such as Germany, the legal system ensures that firms are stakeholder oriented. In others, like Japan, social norms achieve a similar effect. We analyze the advantages and disadvantages of stakeholder-oriented ...
Title:Stakeholder Capitalism, Corporate Governance and Firm Value
Author(s):ALLEN, Franklin; CARLETTI, Elena; MARQUEZ, RobertDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:In countries such as Germany, the legal system is such that firms are necessarily stakeholder oriented. In others like Japan social convention achieves a similar effect. We analyze the advantages and disadvantages of ...