This paper investigates the propensity of exporters in certain primary commodity sectors to innovate and then attempts to measure the associated gains. The high degree of differentiation in metal products is giving rise to the potential for vertical upgrading for a substantial portion of Latin...

Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.

Remarks at Dominican College, Orangeburg, New York.

Remarks at United States Military Academy at West Point, West Point, New York.

Remarks at E-3 Summit of the Americas: Export Trade Basics Forum 101, San Juan, Puerto Rico.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at New York University's Stern School of Business, New York City.

Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.

We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. We use the model to investigate the...