Feeding America is the third largest nonprofit in the United States, managing a network of more than 200 food banks nationwide. Harvard Business School professor Scott Duke Kominers and Chicago Booth School of Business professor Canice Prendergast discuss how the organization designed a marketplace that was efficient and fair for all participants.Â
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This study examines how reserve accumulation affects governments’ decisions to default. The analysis assumes that countries can accumulate reserves and borrow internationally using their own currency. Results suggest that the optimal level of international reserves is fairly large because their cost is mitigated by valuation-smoothing gains. The model matches some features of Brazil’s economic fluctuations.
Debt Redemption and Reserve Accumulation
This study examines how reserve accumulation affects governments’ decisions to default. The analysis assumes that countries can accumulate reserves and borrow internationally using their own currency. Results suggest that the optimal level of international reserves is fairly large because their cost is mitigated by valuation-smoothing gains. The model matches some features of Brazil’s economic fluctuations.