Comparing domestic- and foreign-owned firms in Germany, this paper finds that foreign-owned firms are more likely to focus on short-term profit. This influence is particularly strong if the local managers of the German subsidiary are not sent from the foreign parent company. Moreover, the...

We analyze the interaction between globalization and labor market frictions in a dynamic general equilibrium North-South non-scale growth model with endogenous Northern innovation and endogenous Southern imitation. The employment, growth and relative-wage effects of globalization are shown to...

We analyze the interaction between globalization and labor market frictions in a dynamic general equilibrium North-South non-scale growth model with endogenous Northern innovation and endogenous Southern imitation. The employment, growth and relative-wage effects of globalization are shown to...