Despite evidence of a positive relationship between informationtechnology (IT) investments and firm performance, results still varyacross firms and performance measures. We explore two organizationalexplanations for this variation: differences in firms’ ITinvestment allocations and their IT...

What is the relation between infrequent price adjustment and the dynamic response of the aggregate price level to monetary shocks? The answer to this question ranges from a one-to-one-link (Calvo, 1983) to no connection whatsoever (Caplin and Spulber, 1987). The purpose of this paper is to...

This paper asks the following important question: what was the effect of surging immigration on average and individual wages of U.S.-born workers during the period 1990-2004? Building on section VI I of Borjas (2003) we emphasize the need for a general equilibrium approach to analyze this...

We study the fiscal implications of trade liberalization in a North-South trade model with nonhomothetic preferences. Combining a Ricardian trade model with a continuum of competitive goods and a public good, nonhomothetic preferences imply that both the global income distribution and the local...

What is the relation between infrequent price adjustment and the dynamic response of the aggregate price level to monetary shocks? The answer to this question ranges from a one-to-one link (Calvo, 1983) to no connection whatsoever (Caplin and Spulber, 1987). The purpose of this paper is to...