What were the asserted complementarities between the welfare state and full-employment policies, and why do these complementarities look less convincing today?

Several recent articles claim that pre-tax income equlity promotes growth. Equality is argued to dampen demand for redistributive economic policies that tax returns to growth-enhancing activities such as investment. These results rest heavly on the assumption that pre-tax income equality is an...

This paper presents a model of R&D-driven growth without scale effects where firms can engage in both horizontal and vertical R&D activities.

We propose a simple ,odel to analyze the widespread idea that a necessary condtion from firms to make foreign direct investments is that thay have firm-pecific advantage with respect to host country firms.

A Quality-adjusted specification of labor is suggested which allow firms training to effect labor efficiency. To assess the cost and productivity effects, this specification is integrated into a flexible neoclassical cost function.

Evolutionary game theory studies the robustness of strategy profiles and sets of strategy profiles with respect to evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented inthe sense of focusing on the strategy distribution...

This paper contributes to research endogenizing multinational firms in general equilibrium trade Models.

How do we explain the poor employment performance in Western Europe since about the-1970s? This question is in fact twofold : What initiated the dramatic rise in employment, and waht mechanisms have made it continue for so long? My attemps to answer these questions from the basis for a...

This paper shows that the liberalisation of foreign direct investment (FDI) tends to make the effect of labour costs on domestic investment and labour demand more negative.

We demonstrate a "preemptive merger mechanism" which may explain the empirical puzzle why mergers reduce profits, and raise share prices. A merger may confer strong negative externalities on the firms outside the merger. If being an "insider" is better than being an "outsider", firms may merge...