haku: @author Bartlett, W. / yhteensä: 1
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| Tekijä: | Bartlett, W. |
| Otsikko: | Capital accumulation and employment in a self-financed worker cooperative. |
| Lehti: | International Journal of Industrial Organization
1987 : SEP, VOL. 5:3, p. 277-287 |
| Asiasana: | CAPITAL EMPLOYMENT CO-OPERATIVES |
| Kieli: | eng |
| Tiivistelmä: | A dynamic model of a self-financed labour-managed cooperative firm, free to choose the level of employment and the savings rate, to derive optimal paths of capital accumulation. The study shows initial levels of employment may exceed those of a profitable twin capitalist firm, which contrasts with that derived in traditional static models. Employment increases along optimal paths as capital accumulation occurs, with assumption that inputs are complementary in the production process, but degeneration can happen if the internal discount rate exceeds a critical level. Minimum wage constraint is discussed and the fact that a cooperative firm may replicate the behaviour of its capitalist twin for an initial interval of time. |
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