Many studies suggest that stringent labor protection and higher labor costs in host countries can limit foreign direct investment. This implies that foreign firms are sensitive to the flexibility of the labor market in the U.S. The U.S. has experienced increasing immigrants, which have preserved...

The Trump administration’s 2017 “Buy American and Hire American” Executive Order (BAHA EO) resulted in an unprecedented increase in H-1B visa denial rates that disproportionately affected Indian multinational firms, as they rely heavily on H-1B visas to staff their U.S. branches. This...

This paper aims to put forward an original conceptual framework and a renewed perspective on monetary analysis applied to transnational corporations based on some of the views of Bernard Schmitt developed over the last forty years. After reviewing the terminological principles of the theory of...

In a highly interlinked global economy a key question is how foreign shocks transmit to the domestic economy, how domestic shocks affect the rest of the world, and how policy actions mitigate or amplify spillovers. For policy analysis in such a context global multi-country macroeconomic models...