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"This paper asks whether new technological capacity for producing and exporting additional products provides incentives for greater capital accumulation, without being fully reflected in a higher rate of total factor productivity (TFP) growth. Using a highly disaggregated data set of each...
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currently. The authors also derive a more general rule for sustainability--maintain positive constant genuine investment …
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"According to the conventional wisdom, when an economy enters a recession and nominal prices adjust slowly, the monetary authority should devalue the domestic currency to make the recession less severe. The reason is that a devaluation of the currency lowers the relative price of non-tradable...
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"The current account can be understood as the outcome of investment decisions made by domestic and foreign investors … is driven by changes in investment opportunities. Using data for the United States and Japan, the authors find evidence … supporting innovations in investment opportunities as an important mechanism to explain international capital flows. "--World …
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