It is widely accepted that research in the high-tech sector is considered a key to maintain advanced economies’ competitiveness at the face of their emerging counterparts’ rising technological sophistication. Yet, the impact of research on high-tech output has never been...

This paper re-examines the impact of demographic factors on the current account balance. To this end, we develop an analytical framework that is more general than the one commonly used in the literature in three aspects. First, it accounts for the facts that the world current account balance...