This paper argues that the growth of large, efficient but anticompetitive superstar firms is responsible for the recent slowdown in US economic growth. The argument is based on the growth theory that we have previously developed and tested, which is based on the concept of creative destruction

The leaders of Canada and the United States have announced an ambitious vision for perimeter security and economic competitiveness between the two countries. They have charged a working group with producing a multi-year Action Plan that will turn this vision into reality. The vision is centered...

Since 1981, the United States has managed a trade deficit that has become more negative with each passing year. Yet, economic growth has been on a positive trend. Is there a relationship between the two? Using annual data from 1950 to 2014, this article investigates the causal relationship...

The Generalized System of Preferences (GSP) - a system of differential and favorable trade arrangements toward less developed countries - has been around since the early 1970s. A primary objective of GSP schemes, sponsored by developed industrialized countries, especially by the United States...

This article presents a study of exports of 131 countries for the years 1928-1936. There are two important results. One, while world exports in current USD began to rebound from the collapse of trade during the Great Depression in 1933, world exports in constant US gold dollars decreased...

We document the role of intangible capital in manufacturing firms' substantial contribution to non-manufacturing employment growth from 1977-2019. Exploiting data on firms' "auxiliary" establishments, we develop a novel measure of proprietary in-house knowledge and show that it is associated...

We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic competition in the goods market and individual bargaining. We calibrate the model to US data and...

We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic competition in the goods market and individual wage bargaining. Product market competition affects...

We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic competition in the goods market and individual wage bargaining. Product market competition affects...

This paper takes the position that technology transfers associated with foreign direct investment inflows (FDI) are an important determinant of economic growth in developing countries. The paper also posits that technology transfers, ceteris paribus, depend on the attributes of FDI providers,...