Multiple dimensional shifts related to firm-level multinationalization spill over to the aggregate realm as an unusually large mass of US firms multinationalized in the late-1990s. Firms become considerably different in many aspects as they transform into multinational enterprises (MNEs),...

We examine how basic research should be financed. While basic research is a public good benefiting innovating entrepreneurs it also affects the entire economy: occupational choices of potential entrepreneurs, wages of workers, dividends to shareholders, and aggregate output. We show that the...

In dem Aufsatz wird der Zusammenhang zwischen funktionaler Einkommensverteilung und Wirtschaftswachstum in Österreich, Frankreich, Deutschland, den Niederlanden, Großbritannien und den USA für den Zeitraum von 1960 bis 2005 untersucht. In Anlehnung an Bhaduri/Marglin (1990) legt die Analyse...

Using Gretl, I apply ARMA, Vector ARMA, VAR, state-space model with a Kalman filter, transfer-function and intervention models, unit root tests, cointegration test, volatility models (ARCH, GARCH, ARCH-M, GARCH-M, Taylor-Schwert GARCH, GJR, TARCH, NARCH, APARCH, EGARCH) to analyze quarterly time...

This report aims to accomplish three objectives: provide an assessment of Canada’s productivity performance; provide a synthesis of the productivity studies conducted by the Centre for the Study of Living Standards (CSLS) and the McKinsey Global Institute; and develop a framework for unbundling...

We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...

This paper is concerned with how stylised differences in monetary policy transmission mechanisms and product and labour market rigidities between the US and euro-area economies affect their resilience to temporary shocks. To address this issue, a small general equilibrium model with long-run...

The third issue of the International Productivity Monitor produced by the Centre for the Study of Living Standards contains six articles that deal with a wide range of issues in the productivity area. Topics covered are the contribution of the information and communications technology sector to...

Rice is the world's most important food commodity and also the most protected and subsidized. The U.S. rice program is no exception. The U.S. government supports domestic rice production through tariffs on imported rice and direct taxpayer subsidies based on production, prices, and historical...

This paper analyzes the conflicting explanations of the global imbalances’ pattern and the size of the US external deficit. In this document, it is argued that, far from being incompatible, the explanations suggested are part of a broader story. The drop of the US saving rate has played a...