This paper investigates the relative labor productivity level for total manufacturing in Germany, Sweden and the US for the period 1980-2001. The paper also presents estimates of labor productivity levels for 18 different manufacturing industries for the period 1993-2000. The results show that...

The effect of trade liberalization on the spatial concentration of economic activities is not straightforward. It has, on the one hand been widely argued that protectionism increase spatial concentration when firms locate close to the main domestic markets, but it has also been argued that trade...

We develop a structural bond pricing approach and implement it on a large panel of US industrial bonds using an efficient maximum likelihood methodology. We evaluate the model's ability to predict yield spread levels and changes out-of-sample. Errors are smaller and distinctly less variable than...