The debate about the Prebisch-Singer thesis has focused on primary commodities with some extensions to manufactures. We analyse trends in country terms-of-trade for goods and services rather than those for commodities according to the World Bank income classification. We find that the natural...

The Italian gender wage gap is related to a gap in returns to education which causes a sizable glass ceiling effect. The gap is detected by quantile regressions implemented in different subsets. Quantile regressions allow computation of both the average gap and the divergence in the tails of the...

This paper argues that wages lagging behind productivity is a long-run structural phenomenon due to the interplay of wage dynamics and productivity growth. We call this interplay frictional growth, a term that can only be nullified in the utopian case of zero growth and/or no dynamics. In that...

The Bhaduri-Marglin model is a post-Kaleckian model that allows one to study the impact of a functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or...

Is the ongoing economic slowdown in industrialized countries likely to impact Latin American growth negatively in the medium- to long-run? This paper considers various transmission channels that work through trade in goods and services, and finds econometric evidence suggesting that shrinking...

Using panel data for 48 heterogeneous countries for the period 2000-2010, we explore the impact of a wide set of determinants along with the technological infrastructures on goods and services exports in gravity models. We find that along with the usual basic factors such as incomes, distance,...

In this work we construct a Kaleckian model for analyzing the impacts of remittances upon economies of receiving countries. The arrival of remittances has two harmful effects: contraction of income, and the so-called Dutch Disease (DD). We use our model to formulate an economic policy with two...

Raising the productivity content of exports is an important issue for developing and emerging countries. What role do foreign firms play in this process? This question has not been adequately studied. We contribute to the literature by generalizing the role of foreign direct investment (FDI) in...

We investigate if participation in the Indian Self Help Group (SHG) program results in reducing poverty and vulnerability. The theoretical framework examines the mechanisms through which the pecuniary and non-pecuniary effects of the SHG impacts the households' ability to manage risk. We use a...

As emerging economies experience a boom in capital inflows, governments are increasingly concerned about their downsides. Even the IMF (International Monetary Fund), long a stalwart proponent of financial liberalization, has engaged in a new debate on capital flow management. Drawing lessons...