This paper demonstrates that the current economic crisis has its roots in the evolution of the global economy during the 1960s. The gradual increase of US debt from the 1960s accompanied by the deficit in the US trade balance due to international competition from EU, Japan, and later from China...

O'Hara G. (2005) A journey without maps: the regional policies of the 1964-70 British Labour Government, Regional Studies 39 , 1183-1195. This paper examines four influences on British regional policy in the late 1960s: party politics in the context of the economic environment; the structure of...

Empirical research in international trade has shown that exporting firms display higher productivity than their non-exporting competitors. This paper focuses on the relation between export and profitability. Our evidence on Italian exporting firms shows that exporting activity is not...

Why does the gap in real wage rates persist between the First World and the Third World after so many years of increasing globalization? The standard neoclassical trade model predicts that real wage rates will be equalized with international trade, whereas the standard Ricardian trade model does...

We examine the determinants of the within-industry decline of the labor share, using industry-level annual data for 25 OECD countries, 20 business-sector industries and covering up to 28 years. We find that total factor productivity growth—which captures (albeit imprecisely)...