This paper examines the pattern of employment adjustment in Portugal. First, the issue is addressed using a long time series of aggregate data. Although the employment data show persistence, there is nonetheless a fairly rapid rate of employment adjustment. Second, a much shorter time series of...

This paper evaluates the consequences of accelerated technical progress for monetary transmission and the speed of adjustment in the real economy. With a decreasing service life, the long term rate relevant to real demand will resemble more closely the money market rate. We make the investment...

When parents are more educated, their children tend to receive more schooling as well. Does this occur because parental ability is passed on genetically or because more educated parents provide a better environment for children to flourish? Using an intergenerational sample of families, we...

This paper presents findings of a study of the economic impacts of climate change adaptation. To estimate these impacts on the German economy and its individual sectors we follow a two-step approach: firstly, we estimate the damages resulting from recurring flood events and heat waves, based on...

Contrary to popular perceptions of China as either “technology thief†or “technology superpower,†the success of the Chinese defense electronics sector can be attributed to a combination of indigenous innovation, adaptation of foreign technology, and large-scale technology...