inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

shaping welfare, trade flows, productivity, and unemployment. We show that both countries gain from trade but that the …

country can raise its total factor productivity by investing in R&D. Countries can also boost their productivity by trading …

cycles: during the first phase of each cycle output and productivity grow slowly or even decline, and it is only in the … second phase that growth starts in earnest. The historical record of productivity growth associated with electrification, and …

characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that …

knowledge' from its cumulative R&D activities, a developing country can boost its productivity by importing a larger variety of …

Investment in research and development (R&D) affects a country's total factor productivity. Recently new theories of … total factor productivity of its trade partners. Following these theoretical developments we estimate the effects of a … country's R&D capital stock and the R&D capital stocks of its trade partners on the country's total factor productivity. We …