Simón Cohen, founder of Henco Logistics, transformed a small Mexican company into a major player. Cohen credits the firm’s focus on employee happiness as the key ingredient to its success—an approach he developed following a personal crisis. Cohen and Professor Francesca Gino, author of a case study about the company, discuss whether that approach can endure through rapid growth, a leadership transition, and changing employee expectations.
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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.