Unit roots in output, an exponential 2 per cent rate of convergence and no change in the underlying dynamics of output seem to be three stylized facts that cannot go together. This paper extends the Solow-Swan growth model allowing for cross-sectional heterogeneity. In this framework, aggregate...

This paper assesses the relevance of national information in estimating the demand for euro-area M3 from three perspectives. First, we check whether aggregating national money demands is appropriate. Second, we compare time-series and panel methods to estimate aggregate long-run coefficients....

This book examines America's economy over the past several decades and the sources of our recent success and comes to surprising conclusions about what we can learn from it.

This book exploresthe negative consequences of attempts to protect key U.S. manufacturing industries through the use of antidumping laws.

The author argues that American productivity and living standards, along with those of other countries, will improve only with a renewed commitment to open multilateral trade.