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).
The economic impact of inward FDI on the US
Theodore H. Moran, Lindsay Oldenski, 4 March 2014
Competing successfully in a globalising world: Lessons from Lancashire
Nicholas Crafts, Nikolaus Wolf, 22 October 2013
The ‘first globalisation’ of the 19th century – driven by the substantial falls in trade costs associated with the age of steam – saw the ‘First Unbundling’ (Baldwin 2006), in which industrial production and consumption became spatially separated, often by large distances.
The long-run gains of not mixing genders in high-school classes
Massimo Anelli, Giovanni Peri, 23 February 2013
Gender gap in college majors and earnings
The case for temporary inflation in the Eurozone
Stephanie Schmitt-Grohe, Martín Uribe, 16 September 2012
Vox readers can download CEPR Discussion Paper 9133 for free here.
Why are migrants paid more? Evidence from Italian football
Alex Bryson, Rob Simmons, Giambattista Rossi, 8 May 2012
Are migrants paid more or less than natives for doing the same or similar work and, if they are paid differently, can we be sure that it is due to their migrant status rather than to other differences between migrants and natives, such as their productivity levels?
Diverging competitiveness among EU nations: Constraining wages is the key
Mickey Levy, 19 January 2012
The need for troubled Eurozone nations to rein in unsustainable government finances is clear (see, for instance, Wyplosz 2011 on this site).
Apart from the fiscal compact – on competitiveness, nominal wages and labour productivity
Marga Peeters, Ard den Reijer, 3 January 2012
Eurozone members that face the consequences of severe asymmetric shocks can, in the absence of labour mobility, accommodate by means of fiscal transfers. In order to avoid becoming a one-way transfer union from the core to the periphery, the EU needs to address structural imbalances and persistent current-account deficits and surpluses that are due to real exchange-rate misalignment.
Services offshoring increases wage inequality
Holger Görg, Ingo Geishecker, Christiane Krieger-Boden, 24 December 2011
Offshoring from industrialised countries always evokes hot debate in public and academic circles. Worries concern a loss of employment opportunities in unskilled jobs at one point, and in high-skilled jobs at another. Other worries concern the suspected devaluation of unskilled labour.
Does income cause happiness: Evidence from industrial wage dispersion
Jörn-Steffen Pischke, 3 June 2011
Anyone interested in the sources of joy and misery among (wo)mankind would do well turning to world literature. Tolstoy, of course, famously observed in Anna Karenina that “happy families are all alike; every unhappy family is unhappy in its own way” (Tolstoy 1877). Maybe this is why tragedy is often the more alluring genre.
Are skill-intensive imports from rich nations deskilling emerging economies?
Raphael Auer, 10 December 2010
Among economists and policymakers alike, there is now a sense of agreement that import competition from low-wage countries has caused a decline in the relative wage of unskilled workers in rich nations, probably best summarised by Krugman’s verdict that the impact of trade on wages “is big, and getting bigger” (see
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos