The strikingly different labor market performance of major industrial countries suggests that neither globalization nor skill-biased technological change necessarily result in rising unemployment or declining wages of low-skilled workers. Rather, globalization and technological change cause...

The rise of China and India has completely changed the world economy, moving it towards disequilibrium. Several alternative economic policies are tested to seek a way towards high growth in any continent associated with long-run real and financial equilibrium. The authors argue for a new...