out the possibility that an economy with relatively equal distribution of asset ownership may import capital or credit …

This paper develops a new open-economy endogenous growth model where technology diffusion allows for a stable and non …-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the … policies such as subsidies to innovation investments explain a country's position in the eventual world income distribution …

, Europe, and Oceania for the period from 1870 to 2000 and demonstrate an overriding role for declining trade costs in the pre-World … War I trade boom. In contrast, for the post-World War II trade boom we identify changes in output as the dominant force …

actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount … to 9% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …

. We find that, in this setting, monetary policy is more stabilizing for the economy than trade policy, except when the …

-regional trade in the world and therefore it is claimed that the region is poorly integrated. Yet, with the steady .ow of workers … the world (EU, Latin America and Middle East). We find that, despite large differences in trade patterns, measures of …

American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the …