Arguments regarding trade and other forms of liberalization in developing countries are reviewed. Microeconomically, the standard case for liberalization is dubious under increasing returns to scale and when firms can invest directly in productivity enhancement. Distributional effects of...

Germany will be one of the core countries in the European Monetary Union (EMU). Currently there is therefore a great interest in issues of labor market and monetary policy in Germany. On the basis of a macroeconometric model we study the interaction of labor market and alternative monetary...

The massive US stimulus that has just been enacted is liable to raise questions sooner or later about the viability of the dollar in financial markets. It is true that no currency today – or, in the foreseeable future - seems capable of providing a safer alternative to the dollar, but that...

How do multinational firms affect both the demand for and supply of skills in host-country labor markets? On the demand side, inward can FDI stimulate demand for more-skilled workers in host countries through several channels. To date, most empirical evidence indicates that these channels work...