Missing gains from trade?

Marc J. Melitz, Stephen Redding, 10 March 2014

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The theoretical result that there are gains from trade is a central tenet of international economics. Assuming perfect competition and no market failures, trade acts like a technological improvement that expands the set of feasible allocations and enables Pareto superior outcomes to be achieved. A recent body of research has sought to quantify the magnitude of these welfare gains.

Topics: International trade
Tags: gains from trade, productivity, supply chains, welfare

The economic impact of inward FDI on the US

Theodore H. Moran, Lindsay Oldenski, 4 March 2014

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The US is the second-largest recipient of FDI in the world, behind China, and by far the largest target for FDI among OECD countries (OECD 2013). The numbers are large ($253 billion for the US), and the gap with the next-largest in the OECD is impressive ($63 billion for the UK and $62 billion for France in 2012).

Topics: Productivity and Innovation
Tags: FDI, multinationals, productivity, R&D, spillovers, US, wages

The real wage–productivity nexus

Jennifer L. Castle, David F. Hendry, 13 January 2014

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The Great Recession has produced falling real wages (Elsby et al. 2013). There has not been the ‘usual’ unemployment reaction. As such, it may seem that the wage inflation/unemployment trade-off has shifted. Our recent work suggests otherwise (Castle and Hendry 2013).

Topics: Labour markets, Productivity and Innovation
Tags: productivity, real wages, wage inflation

The Great Escape: Health, wealth and the origins of inequality

Angus Deaton interviewed by Viv Davies, 10 Jan 2014

Angus Deaton talks to Viv Davies about his recent book ‘The Great Escape: health, wealth and the origins of inequality’, that explains how inequality is the catalyst for the great escape from poverty and how the world is better because of it. They discuss the state of inequality in the US, economic growth in China and India and the ineffectiveness of international aid. Deaton stresses the importance of understanding that human well being will be achieved only through a holistic approach. The interview was recorded on 17 October 2013.

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The Great Escape: health, wealth and the origins of inequality, by Angus Deaton (Princeton University Press, October 2013).

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Topics: Poverty and income inequality, Productivity and Innovation
Tags: Inequality, Poverty, productivity

Growing like China: understanding the puzzle of China's economic transition

Fabrizio Zilibotti interviewed by Viv Davies, 23 Dec 2013

Fabrizio Zilibotti talks to Viv Davies about his award-winning paper ‘Growing Like China’ (co-authored with Zheng Song, Kjetil Storesletten and Yikai Wang) that addresses the puzzle of the combination of high growth and high return to capital in China with a growing foreign surplus. They also discuss pensions and demographic transition in China, factors that are driving the country’s growth and the country’s future role in the global economy. The interview was recorded on 17 September 2013.

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Announcement on CEPR website: CEPR Fellows receive the Sun Yefang 2012 Award (Tuesday, September 10, 2013).

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Topics: Poverty and income inequality, Productivity and Innovation
Tags: China, Inequality, productivity

Our uneconomic methods of measuring economic research

Stan Liebowitz, 6 December 2013

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In the movie Moneyball, a nerdy Ivy League economics major, working for a general manager played by Brad Pitt, found undervalued baseball players by applying clear-headed logic and statistical techniques.1 Many economists watching this movie probably felt a tinge of pride in seeing our tools portrayed as rigorously objective.

Topics: Education
Tags: academia, citations, journals, productivity, publication, research

Productivity in Italy: The great unlearning

Fadi Hassan, Gianmarco I.P. Ottaviano, 30 November 2013

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Italy is often regarded as the sleeping beauty of Europe -- a country rich in talent and history, but suffering from a long-lasting stagnation. Italian per-capita income as percentage of the EU15 average has steadily declined since 1994, reaching 84% of EU15 average in 2012. However, this pattern is a novelty compared to previous decades.

Topics: Europe's nations and regions, Productivity and Innovation
Tags: ICT investment, Italy, Management, productivity

What’s wrong with Europe?

Isabella Rota Baldini, Paolo Manasse, 4 November 2013

CEPR Policy Insight No.67 is available to download free of charge here.

URL: http://www.cepr.org/active/publications/policy_insights/viewpi.php?pino=67
Topics: EU institutions
Tags: Eurozone crisis, productivity, US

What’s wrong with Europe?

Isabella Rota Baldini, Paolo Manasse, 4 November 2013

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The US and Europe: a tale of two cities

Topics: EU institutions
Tags: Eurozone crisis, productivity, US

How to avoid middle-income traps? Evidence from Malaysia

Aaron Flaaen, Ejaz Ghani, Saurabh Mishra, 22 July 2013

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Many developing countries have successfully made the transition from low-income to middle-income status, thanks to rapid economic growth, but have subsequently got stuck in a middle-income trap.

Topics: Development
Tags: Malaysia, middle-income gap, productivity

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