Changing Land Rights Means Changing Society: The Sociopolitical Effects of Agrarian Reforms under the Government of Evo Morales

Agrarian reform cannot be limited to a linear process of land distribution. It involves a societal restructuration that affects power relations, multi‐level governance structures, the (re)spatialization of juridical legitimacy and symbolic boundaries between sociocultural groups (ethnicity). This paper analyses the consequences of the major Bolivian agrarian reforms of 1953, 1996 and 2006 for the current process of setting up the ‘plurinational’ state under the government of Evo Morales. Using a historical and sociopolitical approach, we show that the ethnically differentiated devolution of individual and collective tenure rights has resulted in an institutional segmentation along ethnic boundaries that gives rise to a growing polarization between the two socially constructed categories of indigenous people and peasants. This institutional segmentation is not limited to agrarian questions but also affects other domains, such as political processes related to territorial autonomies. The current government is trying to maintain a neutral position by giving priority to large‐scale national programmes of economic development.     

Intergenerational Mobility and Interracial Inequality: The Return to Family Values

This paper investigates two questions. First, what is the relative importance of the components of childhood family environment—parental values versus parental class status—for young adult economic outcomes? Second, are interracial differences in labor market outcomes fully explained by differences in family environment? We find that both family values and family class status affect intergenerational mobility and inter‐racial inequality. Consideration of racial differences in parental values and class status alters but does not eliminate the impact of race on the labor market outcomes of young adults.     

RELATED AND UNRELATED DIVERSIFICATION AND THEIR EFFECT ON HUMAN RESOURCE MANAGEMENT CONTROLS

This paper examines the link between related and unrelated diversification and human resource management (HRM) controls. The paper presents a model proposing that the type of corporate (macro) controls used by related or unrelated firms implies a relative emphasis on either flexibility or fit among HRM practices in that related firms emphasize flexibility and unrelated firms emphasize fit. This emphasis on flexibility or fit, in turn, has implications for the use of HRM (micro) controls such as clan, behavior, and outcome controls such that related firms exhibit the use of all three types of HRM controls, while unrelated firms exhibit a relative emphasis on the use of outcome controls. © 1997 by John Wiley & Sons, Ltd.     

The “Ethics of Social Ideas” Versus The “Ethics of Marketing Social Ideas”

Can the public make a distinction between the “ethics of social ideas” versus the “ethics of marketing social ideas”? This question was empirically assessed via a survey research design. The evidence strongly suggests that individuals cannot totally separate the social idea from the marketing technique used to promote the idea. Also it was found that some social issues are more likely to foster strong ethical concerns than others. The implications of this research are discussed.     

The Contribution of Non-U.S. Institutions to Academic Accounting Journals

This study uses the weightings of accounting journal quality derived by Howard and Nikolai (HN, 1983) to produce a ranked list of the publishing contribution of the twenty-five top non-U.S. institutions for the ten-year period 1977–86. A data base was created of all the contributions by non-U.S. academics to the ten academic accounting and finance journals ranked highest in the HN study. The results of the analyses of this data base indicate: (a) the contribution of non-U.S. countries to the accounting and finance literature; (b) the proportion of publications accounted for by the top twenty-five non-U.S. institutions; and (c) a ranking of the contributions of the top twenty-five non-U.S. institutions.     

Expectations Formation,Sticky Prices,and the ZLB

At the zero lower bound (ZLB), expectations about the future path of monetary or fiscal policy are crucial. We model expectations formation under level- $$ thinking, a form of bounded rationality formalized by García-Schmidt and Woodford (2019) and Farhi and Werning (2019), consistent with experimental evidence. This process does not lead to a number of puzzling features from rational expectations models, such as the reversal puzzle, or implausible large fiscal multipliers. Optimal monetary policy at the ZLB under level- $$ thinking prescribes keeping the nominal rate lower for longer, but short-run macro-economic stabilization is less powerful compared to rational expectations.     

Presidential Address: Debt and Money: Financial Constraints and Sovereign Finance

Economic analyses of corporate finance, money, and sovereign debt are largely considered separately. I introduce a novel corporate finance framing of sovereign finance based on the analogy between fiat liabilities for sovereigns and equity for corporations. The analysis focuses on financial constraints at the country level, making explicit the trade‐offs involved in relying on domestic versus foreign‐currency debt to finance investments or government expenditures. This framing provides new insights into issues ranging from the costs and benefits of inflation, optimal foreign exchange reserves, and sovereign debt restructuring.