This study explores the macroeconomics effects of labor unions in a two-country model of directed technical change in which the market size of each country determines the incentives for innovation. We find that an increase in the bargaining power of a wage-oriented union leads to a decrease in...

The aim of this paper is to describe the national innovation system (NIS) in Morocco. Technological inputs (R & D, number of researchers, number of students in science and technology etc.) and the institutional organization of research are discussed. INS in the Moroccan case is characterized by...

R&D is considered to be the main source of innovation. We argue that R&D is too broad a measure, including activities differing in purposes, culture, people, management and other features. However, empirical studies have not analyzed them separately, mainly due to the lack of data. Using...

This paper empirically examines developments in price and inflation in China from 1991 to 2005. Unlike most previous studies, their determinants were investigated in the panel data context, and our findings are as follows. First, using the panel cointegration method, we confirm a long-run...

How do intellectual property rights that determine the market power of firms influence the effects of monetary policy on economic growth and social welfare? To analyze this question, we develop a monetary R&D-based growth model with elastic labor supply. We find that monetary expansion reduces...

Financial liberalization in various forms affects economic growth and activity. While cross country and time series observations underline the benefits of financial liberalization on growth, recent regional studies try to deepen the observation by distinguishing economic growth and economic...

In credit default prediction models, the need to deal with time-varying covariates often arises. For instance, in the context of corporate default prediction a typical approach is to estimate a hazard model by regressing the hazard rate on time-varying covariates like balance sheet or stock...

This paper incorporates recent developments in the literature to quantify the amount of interprovincial risk-sharing in Canada. We find that 29% of shocks to gross provincial product are smoothed by capital markets, 27% are smoothed by the federal tax-transfer systems, and about 24% are smoothed...

In this paper we study the economic implications of IPR protection on corporate intelligence, R&D investment and economic growth. To accomplish this objective, we introduce trade secret and information leakage into a standard quality-ladder growth model and study the long-run implications of...

The aim of this paper is to describe the national innovation system (NIS) in Morocco. Technological inputs (R & D, number of researchers, number of students in science and technology etc.) and the institutional organization of research are discussed. INS in the Moroccan case is characterized by...