Exchange traded funds (ETFs), funds structured in order to mimic the performance of selected financial assets, are one of the most significant innovative financial instruments recently introduced. They have gained considerable popularity among investors due to their advantages in comparison with...

The slower productivity growth in Canada relative to that experienced in the United States in the second half of the 1990s has been a matter of great concern to Canadians, with a wide variety of explanations put forward to account for this development. A key issue is whether this slower...

Increasing evidence indicates that a large share of granted patents are ''undeserved'' because they do not meet the criteria of novelty or non-obviousness. In recent decades, many jurisdictions introduced patent reforms to avoid weak patent applications and improve legal patent quality. In...

For Kaldor (1972), economic growth is the resultant of a chain-reaction between increases in supply and increases in demand. In order to show the interest of this view, I represent this growth process by an entrepreneurial growth model based on the principle of effective demand. The aggregate...

This article by Edward N. Wolff of New York University examines trends in convergence in OECD countries toward U.S. productivity levels during the postwar period and finds strong evidence for this phenomenon up to 1990, with rapid growth in investment, education, and R&D in OECD countries...