Tag Archives: Globalization

Innovation and Production in a Global Economy

From Costas Arkolakis, Natalia Ramondo, Andrés Rodríguez-Clare, and Stephen Yeaple: The process of globalization features increasing international specialization in innovation or production. To assess the welfare implications of this process, we develop a quantitative, multi-country general equilibrium model where firms can serve … Continue reading

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What economic problem keeps Larry Summers up at night?

What about the economy now keeps you in cold sweats at night?  I worry for the medium and long term about where the jobs are going to come from for those with fewer skills. One in five men between 25 … Continue reading

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Falling Interest Rates

The secular decline in rates since the Volker era is quite striking. Besides factors related to the great moderation and the global savings glut, I wonder how much of this trend is due to the USD’s exorbitant privilege in a … Continue reading

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