| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15720 |
| DP15720 Economic Growth in a Cooperative Economy | |
| Francesco Caselli; Thomas Brzustowski | |
| 发表日期 | 2021-01-26 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We develop and formalize an equilibrium concept for a dynamic economy in which production takes place in worker cooperatives. The concept rules out allocations of workers to cooperatives in which a worker in one cooperative could move to a different cooperative and make both herself and the existing workers in the receiving cooperative better off. It also rules out allocations in which workers in a cooperative would be made better off by some of the other workers leaving. We also provide a minimum-information equilibrium-selection criterion which operationalizes our equilibrium concept. We illustrate the application of our concept and operationalization in the context of an overlapping-generation economy with specific preferences and technology. The cooperative economy follows a dynamic path qualitatively similar to the path followed by a capitalist economy, featuring gradual convergence to a steady state with constant output. Quantitatively, however, the cooperative economy features a static inefficiency, in that, for a given aggregate capital stock, firm size is smaller than what a social planner would choose. On the other hand, the cooperative economy cannot be dynamically inefficient, and could accumulate capital at a rate that is higher or lower than the capitalist economy. We also present an illustrative calibration which quantitatively compares steady-state incomes in a cooperative and in a capitalist economy. |
| 主题 | Development Economics ; Labour Economics ; Macroeconomics and Growth |
| URL | https://cepr.org/publications/dp15720 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544726 |
| 推荐引用方式 GB/T 7714 | Francesco Caselli,Thomas Brzustowski. DP15720 Economic Growth in a Cooperative Economy. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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