Globalization and technological innovations create investment opportunities for firms worldwide. In fact, while firms pursue foreign direct investment (FDI) opportunities on a global basis, countries compete to attract these flows. Investment decisions by firms depend on complex and distinct...

In order to group the observations of a data set into a given number of clusters, an ‘optimal’ subset out of a greater number of explanatory variables is to be selected. The problem is approached by maximizing a quality measure under certain restrictions that are supposed to keep the subset...

Using the statistical technique of fuzzy clustering, regimes of inflation and unemployment are explored for the United States, the United Kingdom and Germany between 1871 and 2009. We identify for each country three distinct regimes in inflation/unemployment space. There is considerable...