We discuss the effects of the stock market in the second part of the paper, which centers on the relation between stock prices and R&D investment. We examine Tobin’s (and Minsky’s) “q” theory and the implications it has for this investment, along with the relationship between innovation...

The recent large and rapid slowdown in economic activity has resulted in even larger and more rapid declines in international trade. As world trade is set to rebound, this paper addresses three questions: (i) Will trade volumes rebound in a symmetric fashion as world economic growth rebounds?...

The World Trade Organization round of negotiations first established at Doha, Qatar, in 2001 collapsed in the summer of 2006. To many, this was an unimaginable failure and one of the largest obstacles the long march toward worldwide free trade had ever faced. But we asked three observers with...

The fixation on balancing the federal budget deficit may be self-destructive, argues this economist. Washington is not making the right choices.