Which improves welfare more: A nominal or an indexed bond?

Summary. Economists have long argued that loan contracts should be indexed to remove the risks arising from fluctuations in the purchasing power of money: indexation however while eliminating one risk, substitutes another, arising from fluctuations in relative prices of goods. We present a theoretical framework which permits the relative merits of a nominal versus an indexed bond to be assessed in a general equilibrium setting. Received: July 31, 1995; revised version August 7, 1996     

静态设备采用无损检测和风险管理的维修策略模式

介绍静态设备的维修策略是采用风险管理和无损检测技术，对建立风险评价方阵（RAM）的方法有较详细的说明，并列举了一个案例。     

The Asian Crisis, the IMF and Dr Mahathir

While in the literature concerning the Asian crisis extensive coverage has been given to the course of events in the countries implementing IMF-supported programmes, scant attention has been paid to other countries that also suffered from the crisis. Potential alternatives to the IMF way of handling the crisis are thus in danger of being neglected. The project on which this paper is based was funded by the Indo-Dutch Program on Alternatives in Development (IDPAD) in collaboration with the Indian Council of Social Science Research (ICSSR).     

COLLECTIVELY GARDENING THE URBAN PUBLIC SPACE IN MEXICO CITY: When Informal Practices Interact with the State

In recent years, a growing number of citizen-led gardens have appeared in the urban public spaces of large cities across the world. While many of these projects are initially launched informally without any support from the state, they gradually become integrated into the social fabric of the city. To understand the evolution of the formal–informal boundaries of the practice, we argue that we should be paying attention to the specific institutional contexts that frame gardeners’ interactions with public authorities. Drawing from a study of citizen-led gardens in Mexico City, we show that informal urban gardening becomes a disconnected-from-the-state practice. On the one hand, the Mexico City government has shown a growing interest in regulating urban agriculture. On the other hand, gardeners are increasingly trying to find their own ways to formalize and perennate their practice. We suggest that this disconnection between gardeners and the state is best explained by the weakness of the institutional context in which their interactions take place. A top-down policymaking process, along with the incapacity and unwillingness of the multi-leveled city government to implement policies effectively, reinforces norms of mistrust and generates low expectations among gardeners as they interact with local authorities.     

Born globals’ decision-making logics during their entrepreneurial process

Journal of International Entrepreneurship - New entrepreneurial logics such as effectuation, bricolage, and causation have become increasingly important in the entrepreneurship literature since the...