In this study, we quantify the role of foreign-born founders in high-tech entrepreneurship in a nationally representative sample of rapidly growing "high-impact" companies. This class of companies drives job creation and aggregate growth in the U.S. We find that, while most previous studies have...

European Union and the United States have decided to start negotiations over a Transatlantic Trade and Investment Partnership. Among other things, the agreement would include a reduction in trade and investment barriers as well as barriers against participation in public procurement projects. If...

A Transatlantic Free Trade Area (TAFTA) has been proposed in the mid-1990s to revitalize the economic and political ties between the United States and the European Union. This paper discusses the expected economic gains from such a free trade area for its members with respect to trade in goods...

Why are foreigners willing to invest almost $2 trillion per year in the United States? The answer affects if the existing pattern of global imbalances can persist and if the United States can continue to finance its current account deficit without a major change in asset prices and returns. This...

This paper investigates the effects of multinational corporations on labor standards. We argue that the previous literature has failed to distinguish the different motives that encourage firms to become multinational. Therefore, we build a stylized model of segmented labor markets with...

This paper argues that Japanese Foreign Direct Investment (FDI) in China plays a critical role in home and host country's bilateral trade imbalances with the U.S. Using six cross-sectional panel data from 1981 to 2007, we find strong evidence in support of the role of Japanese FDI in mounting...

The literature on the transfer of technology from FDI to host country firms is growing rapidly. Most of the studies find that there are positive spillover effects from FDI flow to host country firms in advanced economies. The result for the case of FDI recipient developing economies is mixed....

This paper investigates the effects of multinational corporations on labor standards. We argue that the previous literature has failed to distinguish the different motives that encourage firms to become multinational. Therefore, we build a stylized model of segmented labor markets with...

This article examines the determinants of U.S. and Japanese direct investment in China using the regional data set from 1991 to 1997. The level of local GDP affects significantly the inflow of investment from both sources. Policy variables are also found to have significant positive effects on...

Multinational firms (MNEs) dominate trade flows, yet their global production decisions are often ignored in firm-level studies of exporting and importing. Using newly merged data on US firms' trade and multinational activity by country, we show that MNEs are more likely to trade not only with...