We propose a stylized monopolistic competition model of international trade where firms differ with respect to the expected economic lifetime of their innovations. Upon entry, they receive a commonly observed signal which is updated over time. Jointly with partial irreversibility of investment,...

We propose a stylized monopolistic competition model of international trade where firms differ with respect to the expected economic lifetime of their innovations. Upon entry, they receive a commonly observed signal which is updated over time. Jointly with partial irreversibility of investment,...

We propose a stylized monopolistic competition model of international trade where firms differ with respect to the expected economic lifetime of their innovations. Upon entry, they receive a commonly observed signal which is updated over time. Jointly with partial irreversibility of investment,...

This paper presents a simple North-South model of endogenous growth, based on learning by doing, which is consistent with the following empirical observations: (i) the price of investment goods relative to consumption goods has been falling for the last 40 years in most industrialized countries,...

This paper argues that the empirical trade-growth relationship should be modelled using a dynamic panel data approach and that it is best estimated with Blundell and Bond's (1999) system-GMM estimator. This procedure remedies some econometric problems such as regressor endogeneity, measurement...

Nachdem Joe Biden die Präsidentschaftswahlen in den USA für sich entscheiden konnte, stellt sich die Frage, wie sich die transatlantischen Beziehungen zwischen den USA und der Europäischen Union zukünftig entwickeln werden. Das Verhältnis zwischen der USAdministration unter Donald Trump und...

This paper analyzes the effect of Product Market Regulation (PMR) on unemployment in asearch model with heterogeneous multiple-worker firms. In our setup, PMR modifies thedistribution of firm productivities, thereby affecting the equilibrium rate of unemployment...