Is the United States losing its dominance in high-technology industries?

High technology industries

The trade-related aspects of intellectual property rights: what is at stake?

Free trade

Trade imbalances and economic theory: the case for a U.S.-Japan trade deficit

Balance of trade ; Japan

Environmental protection and free trade: are they mutually exclusive?

Environmental protection ; Free trade

Nonlinearity and chaos in economic models: implications for policy decisions

This survey paper discusses the policy implications that can be expected from the recent research on nonlinearity and chaos in economic models. Expected policy implications are interpreted as a driving force behind the recent proliferation of research in this area. In general, it appears that no new justification for policy intervention is developed in models of endogenous fluctuations, although this conclusion depends in part on the definition of equilibrium. When justified, however, policy tends to be very effective in these models.Macroeconomics ; Economic stabilization

Product cycles, innovation and relative wages in European countries

This paper attempts to bridge the gap between the theoretical literature examining how innovation affects income across countries and the empirical literature examining how relative wages within a country change over time. We test the hypothesis that the relative wage between workers in high-and low-technology industries within a country is a function of the rate of domestic innovation and innovation abroad. To test this hypothesis data for 7 European countries for the years 1971-1988 are used. The empirical results show that the relative rates of innovation (as measured by the ratio of patents to high-tech workers) are significant determinants of the relative wage.Wages ; European Economic Community

R&D spending and cyclical fluctuations: putting the "technology" in technology shocks

We examine the dynamic properties of an endogenous growth model with an explicit R&D sector in order to evaluate its ability to propagate temporary disturbances into persistent fluctuations in macroeconomic variables. We demonstrate that a large proportion of the variability and persistence of measured Solow residuals can be thought of as reflecting the endogenous accumulation and adaptation of technical knowledge rather than simply exogenous processes. By explicitly modeling R&D, we use a framework in which it is possible to explicitly consider the role of technology in "technology shocks."Research and development

A new man

How far would you go to feel comfortable in your own skin? Would you spend thousands of dollars for muscle damaging chest binders, ongoing rounds of shots or undergo invasive surgery? For Charlie Poulson, a junior in graphic design, none of these are questions