We develop a Ricardian model to explore the role of trade in spreading the benefits of innovation.

Countries differ in their absolute and relative productivities in doing research across different technologies. They also differ in their propensity to adopt different technologies from abroad. Moreover, technologies may vary in their international mobility. We make use of new data on...

We develop a framework for estimating the optimal expenditure of agents subject to unobserved liquidity constraints. OUr framework allows us to estimate credit ceilings as well as preference parameters. We apply the framework to data on net resource transfers from private lenders to twenty-nine...

Innovative activity is highly concentrated in a handful of advanced countries. These same countries are also the major exporters of capital goods to the rest of the world. We develop a model of trsde in capital goods to assess its role spreading the benefits of technological advances.

Our recent work examines the links among innovations, technology, trade, and growth. One strand focuses on research activity, technology diffusion, and growth. The other examines technology and trade. In this paper we exploit the common treatment of technology in these two strands to provide a...

European countries do less research than Japan and the United States. We use a quantitative multi-country growth model to ask: (i) Why is this so? (ii) Would there be any benefit to expanding research in Europe? (iii) What various European research promotion policies do? We find that: (i)...

Measures of innovative activity show it to be concentrated in a small number of countries. Yet the benefits of innovation are experienced broadly. International trade is one conduit through which the benefits of innovation in one country can flow abroad. Technological diffusion is another. In...

The banking systems of some countries export intermediation services to the rest of the world, while many other countries are net exporters of deposits to banks abroad and net importers of loans from banks abroad. Banking center countries typically have lower inflation, deeper financial ncial...

Global environmental concerns have increased the sensitivity of governments and other parties to the actions of those outside their national jurisdiction. Parties have tried to extend influence extraterritorially both by promising to reward desired behavior and by threatening to punish undesired...

Sanctions are measures that one party (the sender) takes to influence the actions of another (the target). Sanctions, or the threat of sanctions, have been used, for example, by creditors to get a foreign sovereign to repay debt, or by one government to influence the human rights, trade, or...