The authors examine episodes of large gross FDI inflows - surges - at the sectoral level between 1994 and 2009 for 95 emerging-market and industrial countries. They find that surges in the primary and manufacturing sectors are less cyclical and associated with lower macroeconomic volatility than surges in the business ...Download Now
The authors develop a general equilibrium model of vertical innovation in which multiple firms compete monopolistically in the quality space. The model features many firms, each of which holds the monopoly to produce a unique quality level of an otherwise homogenous good, and consumers who are heterogeneous in their valuation ...Download Now
What is the impact of import competition from Low-Wage Countries (LWCs) on inflationary pressure in Europe? This paper examines whether labor-intensive exports from emerging Europe, Asia, and other global regions have a uniform impact on producer prices in Germany, France, Italy, Sweden, and the United Kingdom. In a panel covering ...Download Now
Conventional wisdom suggests that compulsory voting lowers the influence of special-interest groups and leads to policies that are better for less privileged citizens, who often abstain when voting is voluntary. To scrutinize this conventional wisdom, the author studies public goods provision and rents to special-interest groups in a probabilistic voting ...Download Now
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