The strikingly different labor market performance of major industrial countries suggests that neither globalization nor skill-biased technological change necessarily result in rising unemployment or declining wages of low-skilled workers. Rather, globalization and technological change cause...

This volume assesses the effects of industrial policy at three levels: through the user cost of capital, through the effects of a macroeconomic model on the decisions of an enterprise, and through the effects of a macroeconomic model on the machine tools industry via its major customer...