We explore the connection between inflation and its higher-order moments for three economies in the periphery of the European Union (E.U.), Greece, Portugal and Spain. Motivated by a micro-founded model of inflation determination, along the lines of the hybrid New Keynesian Phillips curve, we...

We build on extant theory of the MNC, MNC subsidiaries, absorptive capacity and Penrose's concept of 'productive opportunity' to develop a framework on the MNC and absorptive capacity (AC) that allows us to explore the role of subsidiaries in the global sourcing of knowledge. We develop and test...

In this paper we examine, for the first time to the best of our knowledge, the issue of convergence in Foreign Direct Investment (FDI) for a sample of countries representative of the world economy. We distinguish between groups of countries so that we can better understand differences attributed...