The waning of the commodity boom places renewed emphasis on manufacturing as an engine for Canadian growth. However, Canadian manufacturing exports have been relatively stagnant since 2000. While the exchange rate depreciation over the past two years has energized export growth, the response has...

This paper studies the optimal design of dynamic research contests. We introduce interim transfers, which are paid in every period while the contest is ongoing, to an otherwise standard setting. We show that a contest where: (i) the principal can stop the contest in any period, (ii) a constant...

"America's educational system excels in at least one area: university-based research. Why? Miguel Urquiola, an economist of education, argues that the key is that the United States takes a free market approach to education. Urquiola begins by showing how dominant American universities are in...