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Okun's Law : Fit at Fifty?
Ball, Laurence M. - 2013
This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty … the unemployment rate - varies substantially across countries. This variation is partly explained by idiosyncratic …
Persistent link: https://www.econbiz.de/10012459993
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The Two Crises of International Economics
Dooley, Michael P. - 2007
In this essay, we argue that key assumptions in international macroeconomic theory, though useful for understanding the economic relationships among developed countries, have been pushed beyond their competence to include relationships between developed economies and emerging markets. The...
Persistent link: https://www.econbiz.de/10012465456
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R&D and Productivity : The International Connection
Helpman, Elhanan - 1997
Countries differ greatly in R&D spending, and these differences are particularly striking when comparing developed with developing countries. The paper examines the extent to which the benefits of R&D are concentrated in the investing countries. It is argued that significant benefits spill over...
Persistent link: https://www.econbiz.de/10012472713
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The Endogeneity of the Optimum Currency Area Criteria
Frankel, Jeffrey A. - 1996
A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...
Persistent link: https://www.econbiz.de/10012473138
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Goods Trade and International Equity Portfolios
Collard, Fabrice - 2007
We show that international trade in goods is the main determinant of international equity portfolios and offers a compelling -- theoretically and empirically -- resolution of the portfolio home bias puzzle. The model implies that investors can achieve full international risk diversification if...
Persistent link: https://www.econbiz.de/10012465027
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Endogenous Product Cycles
Grossman, Gene M. - 1989
We construct a model of the product cycle featuring endogenous innovation and endogenous technology transfer. Competitive entrepreneurs in the North expend resources to bring out new products whenever expected present discounted value of future oligopoly profits exceeds current product...
Persistent link: https://www.econbiz.de/10012476141
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Lifting the Domestic Veil : The Challenges of Exporting Differentiated Goods Across the Development Divide
Artopoulos, Alejandro - 2011
Several developing countries feature weak performances as exporters of differentiated goods to developed countries. This paper builds a conceptual framework to explain the obstacles that prevent producers of differentiated products from establishing a consistent presence in the developed world...
Persistent link: https://www.econbiz.de/10012461710
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The Evolution of Comparative Advantage : Measurement and Welfare Implications
Levchenko, Andrei A. - 2011
We estimate productivities at the sector level for 72 countries and 5 decades, and examine how they evolve over time in both developed and developing countries. In both country groups, comparative advantage has become weaker: productivity grew systematically faster in sectors that were initially...
Persistent link: https://www.econbiz.de/10012461851
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The Aftermath of the 1992 ERM Breakup : Was There a Macroeconomic Free Lunch?
Gordon, Robert J. - 1999
surprising miracle occurred the leaver nations are alleged to have enjoyed a burst of real growth and a decline in unemployment … pronounced if it were not for quiescent wage rates, which the paper attributes to high unemployment. The absence of any …
Persistent link: https://www.econbiz.de/10012471843
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Trade and Labor Market Outcomes
Helpman, Elhanan - 2011
This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market …. It implies that the opening of trade may raise inequality and unemployment, but always raises welfare. Unilateral … reductions in labor market frictions increase a country's welfare, can raise or reduce its unemployment rate, yet always hurt the …
Persistent link: https://www.econbiz.de/10012461995