Fiscal policy in EMU has to be evaluated in the light of the changing nature of capital mobility in Europe and its effects on growth. Most arguments about the effects of fiscal policy in EMU assume that we live in a perfect competition world with a unique natural rate of output for each country....

This paper explores the extent to which the scale and location of foreign direct investment by German manufacturing corporations is affected by indigenous technological developments and different forms of regional integration agreements. The authors use an annual panel data set covering...

This paper constructs a theoretical model of foreign direct investment and examines the extent to which the model can explain the level of outward direct investment by U.S. companies over the last two decades. The authors find that market size and factor costs, both labor and capital, are...