We analyze how corporate reorganization and liquidation change labor reallocation during bankruptcy using randomized judge assignments and linked Portuguese employer-employee and firm data. Reorganization reduces the negative effect of bankruptcy on employee earnings, even with most workers...

A water allocation mechanism is the combination of institutions which enable water users and water uses to use, take or to receive water for beneficial use according to a recognised system of rights and priorities (Taylor, 2002). It defines who is allowed to access water, how much may be used or...