No Image

Firm R&D Investment and Export Market Exposure

November 12, 2018 Bilal 0

Firm R&D Investment and Export Market Exposure https://ift.tt/2Qls2Fl Firm R&D Investment and Export Market Exposure NBER Working Paper No. 25228 Issued in November 2018 NBER Program(s):International Trade and Investment, Productivity, Innovation, and Entrepreneurship In this article we study differences in the returns to R&D investment between firms that sell in international markets and firms that only sell in the domestic market. We use German firm-level data from the high-tech manufacturing sector to estimate a dynamic structural model of a firm’s decision to invest in R&D and use it to measure the difference in expected long-run benefit from R&D investment for […]

No Image

New Technologies, Global Value Chains, and the Developing Economies – Dani Rodrik | Pathways for Prosperity

October 16, 2018 Bilal 0

New Technologies, Global Value Chains, and the Developing Economies – Dani Rodrik | Pathways for Prosperity https://ift.tt/2AdQrGV Technology and access to global value chains are seen as two key levers for development for many of the world’s poorest countries. Many developing countries, inspired by the Asian Tigers and looking at the transformative impact of mobile technology in the financial inclusion space are looking to craft policies and invest in development strategies that better connect them to the global economy. This paper suggests that the evidence of global value chains and their impact on development is mixed at best, and that […]

No Image

Is apparel manufacturing coming home?

October 16, 2018 Bilal 0

Is apparel manufacturing coming home? https://ift.tt/2Cb5Jh3 Is apparel manufacturing coming home? To meet customers’ needs, apparel companies need to focus on nearshoring, automation, and sustainability. Tomorrow’s successful apparel companies will be those that take the lead to enhance the apparel value chain on two fronts: nearshoring and automation. Both must be addressed, and in a sustainable way. Apparel brands and retailers in Europe and the United States can no longer do business as usual and expect to thrive. Owing to stagnation in Western markets and to the internet, competition is fiercer than ever, and consumer demand is more difficult to […]

No Image

Global Trends in Interest Rates – FEDERAL RESERVE BANK of NEW YORK

September 19, 2018 Bilal 0

Global Trends in Interest Rates – FEDERAL RESERVE BANK of NEW YORK https://ift.tt/2xnZiEi JEL classification: E43, E44, F31, G12 The trend in the world real interest rate for safe and liquid assets fluctuated close to 2 percent for more than a century, but has dropped significantly over the past three decades. This decline has been common among advanced economies, as trends in real interest rates across countries have converged over this period. It was driven by an increase in the convenience yield for safety and liquidity and by lower global economic growth. Publish via – FEDERAL RESERVE BANK of NEW […]

No Image

Don’t Get Into a Knife Fight with Larry Summers

September 4, 2018 Bilal 0

Don’t Get Into a Knife Fight with Larry Summers https://ift.tt/2wAYkUC Larry Summers is not happy with Joseph Stiglitz’s piece The Myth of Secular Stagnation, which argues that the idea of secular stagnation as put forward by Summers and others was little more than a mask for poor economic policy and performance under the Obama administration. Those responsible for managing the 2008 recovery (the same individuals bearing culpability for the under-regulation of the economy in its pre-crisis days, to whom President Barack Obama inexplicably turned to fix what they had helped break) found the idea of secular stagnation attractive, because it […]

No Image

Setting the Record Straight on Secular Stagnation

September 4, 2018 Bilal 0

Setting the Record Straight on Secular Stagnation https://ift.tt/2Q0tSeQ Echoing conservatives like John Taylor, the Nobel laureate economist Joseph Stiglitz recently suggested that the concept of secular stagnation was a fatalistic doctrine invented to provide an excuse for poor economic performance during the Obama years. This is simply not right. CAMBRIDGE – Joseph Stiglitz recently dismissed the relevance of secular stagnation to the American economy, and in the process attacked (without naming me) my work in the administrations of Presidents Bill Clinton and Barack Obama. I am not a disinterested observer, but this is not the first time that I find […]

No Image

Inequality Aversion, Populism, and the Backlash Against Globalization — by Lubos Pastor, Pietro Veronesi

September 2, 2018 Bilal 0

Inequality Aversion, Populism, and the Backlash Against Globalization — by Lubos Pastor, Pietro Veronesi https://ift.tt/2vF0fqZ Inequality Aversion, Populism, and the Backlash Against Globalization NBER Working Paper No. 24900 Issued in August 2018 NBER Program(s):Asset Pricing, International Finance and Macroeconomics, International Trade and Investment, Political Economy Motivated by the recent rise of populism in western democracies, we develop a model in which a populist backlash emerges endogenously in a growing economy. In the model, voters dislike inequality, especially the high consumption of the “elites.” Economic growth exacerbates inequality due to heterogeneity in risk aversion. In response to rising inequality, rich-country […]

No Image

Saving Capitalism from Economics 101

August 31, 2018 Bilal 0

Markets can be good, but they are also profoundly susceptible to abusive practices, including by prominent private-sector people. This is not a theoretical concern; it is central to our current policy debates, including important new US legislation that has just been put forward. Source: Saving Capitalism from Economics 101