This paper looks at the impact of investment tax subsidies on the labor market for capital goods workers using data from the 1979-88 Current Population Survey. The results show that investment subsidies drive up the wages of workers who produce capital goods relative to other manufacturing...

In this paper we demonstrate the importance of distinguishing capital goods tariffs from other tariffs. Using exposure to a quasi-natural experiment induced by a trade reform in Colombia, we find that firms that have been more exposed to a reduction in intermediate and consumption input or...

A previously disregarded source of time variation in real investment opportunities, namely long-run investment productivity shocks, helps explain the joint behavior of macroeconomic quantities and asset prices. A two-sector general equilibrium model with long-run investment shocks and wage...

Purpose: Investigating how the separation of the product and service business mediates the effect of management’s commitment to the service strategy on service performance in product manufacturing firms. Methodology: We surveyed 216 European manufacturers in the high-value durable equipment...

Time series analysis and forecasting of stock market prices has been a very active area of research over the last two decades. Availability of extremely fast and parallel architecture of computing and sophisticated algorithms has made it possible to extract, store, process and analyze high...

We introduce long-run investment productivity risk in a two-sector production economy to explain the joint behavior of macroeconomic quantities and asset prices. Long-run productivity risk in both sectors, for which we provide economic and empirical justification, acts as a substitute for shocks...

Industrial fluctuations are closely related to the evolution of relative prices of produced goods and resources involved in production activity. Industrial fluctuations, as an expression of forces manifested in the real economy, are caused by changes in individuals’ consumption and investment...

Almost 80 percent of capital goods production in the world is concentrated in 10 countries. Poor countries import most of their capital goods. We argue that international trade in capital goods has quantitatively important effects on economic development through two channels: (i) capital...

Industrial fluctuations are closely related to the evolution of relative prices of produced goods and resources involved in production activity. Industrial fluctuations, as an expression of forces manifested in the real economy, are caused by changes in individuals’ consumption and investment...

Diese Studie verwendet die Methode der Hausman-Taylor-2SLS Fehler-Komponenten zur Schätzung der Determinanten von Chinas Intraindustriellem Handel (IIT) im Investitionsgütersektor mit seinen 26 Partnerländern. Sie disaggregiert IIT in horizontalen IIT (HIIT) und vertikalen IIT (VIIT)....

Despite many previous studies on catch-up, the path-following catch-up strategy has remained underexplored because of its questionable sustainability. However, in this study, we suggest that sustained and successful achievement of the path-following catch-up strategy is possible through the...