A good deal of controversy surrounds the empirical regularity of convergence. If capital’s share is taken to be 1/3, as in national accounts, then convergence should occur at a much faster rate than observed. Problems are worse if the economy is open. With perfect capital mobility convergence...

It has long been surmised that firms controlled by different countries may have unequal effects on the host economies in which they locate. By looking at the seven major source countries of foreign direct investment (FDI) in the United States, we provide empirical evidence that the state growth...

The United States has experienced a dramatic increase in foreign direct investment (FDI) in recent years. While foreign firms bring immediate benefits of high-paying jobs, data limitations have prevented detailed study on FDI's long-term effects on the states receiving it. By creating a new...

Many instructors in subjects such as economics are frequently concerned with how to teach technical material to undergraduate students with limited mathematical backgrounds. One method that has proven successful for the authors is to connect theoretically sophisticated material with actual data....