Lasting steel crises in Western European and North American countries and increasing efforts of developing countries in establishing national steel industries are contrasting features of today's international steel scene. Has comparative advantage in steel production shifted from the former to...

Significant changes in the structure of production and employment are one of the salient features of West Germany's economic history. However, it was not until the mid-1970s that such changes were accompanied by sizeable friction. After 1973, the hitherto last year of full employment, the German...

Among the hypotheses which have been advanced to explain a country's international trade patterns the neo-factor proportions hypothesis and, more recently, the neo-technology hypothesis have exerted particular appeal both in theory and in empirical testing. The former introduces intercountry...

After two and a half decades of prosperous postwar development, western industrialised countries recently experienced a slowdown of economic growth and productivity advance together with an increase in the rates of inflation and unemployment. The deep recession of 1974/75 has uncovered...

Since the early sixties traditional machinery suppliers, almost exclusively located in highly advanced economies, have been subject to considerable adjustment pressures. Among the most important causes, firstly, was the increasing international penetration of markets among traditional machinery...

This paper estimates the Marginal Abatement Cost Curve (MACC) of CO2 emissions in China based on a provincial panel for the period of 2001-2010. The provincial marginal abatement cost (MAC) of CO2 emissions is estimated using a parameterized directional output distance function. Four types of...

This paper looks at the importance of CSR considerations in the decision taken by a foreign affiliate of a multinational company about the choice of local suppliers. We investigate this empirically using unique firm level data for more than 2,000 foreign owned firms in 19 Sub-Saharan African...

We investigate whether recoveries following normal recessions differ from recoveries following recessions that are associated with either banking crises or housing crises. Using a parametric panel framework that allows for a bounce-back in the level of output during the recovery, we find that...

We show that technical indicators deliver economic value in predicting the U.S. equity premium. A crucial element of this value stems from the stability of return predictability over the full sample period from 1950 to 2013. Results tentatively improve over time and beat alternatives over...