In the current debate on the relationship between inequality in income distribution and growth one of the possible link works through the access to education. After reviewing this debate, a formal model shows how the imperfection of financial markets makes educational choices dependent on the...

Both theoretical and applied research have benne devoting much attention to the fact that large and growing shares of international trade floes among industrialized countries consist of intermediate goods. The new configuration of the productive structure underlying such phenomenon has been...

This paper investigates the extent to which expansion of international production by US multinational reduces labor demand at home and at other foreign locations. The few existing empirical studies on this subject maintain, along with firm’s cost minimizing behavior, perfectly variable inputs....