A substantial part of international differences in prices of individual products, both goods and services, can be explained by differences in per capita income, wage compression, or low wage dispersion among low-wage workers, and short-term exchange rate fluctuations. Higher per capita income is...

Technology can make a significant contribution to reducing greenhouse gas emissions from the energy sector. But it can only do so if efforts to develop and deploy advanced energy technologies are redoubled and if technological advances are combined with measures that discourage the emitting of...

Many economists and policy makers are concerned about international differences in technology and labor quality, correctly seeing these issues as crucial to long term growth in living standards. Typically, international trade economists assume that technological knowledge is the same in all...

There were three epochs of growth experience after the mid 19th century for what is now called the OECD 'club'; the late 19th century, the middle years between 1914 and 1950, and the late 20th century. The late 19th and the late 20th century epochs were ones of overall fast growth and...

The decline in the costs of multinational production (MP) has led some countries to specialize in innovation and others to specialize in production. To study the aggregate and distributional implications of this phenomenon, we develop a quantifiable general equilibrium model of trade and MP....