This paper investigates the impact on the United Kingdom of the measurement activity that provides the basic underpinning technology, or infra-technology, for a diverse set of economic activities. Using data on R&D, patents and input–output relationships we track the nature and extent of spillover effects from measurement technology into the wider economy. The results show that measurement R&D ...

Information spillover and liquidity externality across securities is of practical importance to both practitioners and policy makers. We empirically examine how information spillover facilitates liquidity externalities between the equity and corporate bond markets. An event study was conducted by comparing the change of liquidity of stocks whose corporate bonds are TRACE-eligible with that of n...

We propose a simple model of wage dispersion arising from oligopsonistic competition in the labor market. Our model has workers who are equally able but who have heterogeneous preferences for non-wage characteristics, while employers have heterogeneous productivity characteristics. We completely and explicitly solve for the equilibrium wage distribution and show that “inside” and “outside” forc...

The purpose of this paper is to promote discussions and the exchange of ideas. Comments on the concepts presented are gratefully received.

In this paper we present and analyze a stylized model of endogenous growth with international technology spillover effects from the North to the South. The model allows for endogenous structural change and environmental degradation that reduces world output. We find that within this framework the costless technological spillovers foster structural change in both more and less advanced economies...

This paper investigates firms’ optimal location choices explicitly accounting for the role of inwards and outwards knowledge spillovers in a dynamic Cournot oligopoly with firms that are heterogeneous in their ability to carry out cost-reducing R&D. Firms can either locate in an industrial cluster or in isolation. Technological spillovers are exchanged between the firms in the cluster. It is sh...

Acknowledgements I wish to thank Prof. Dan Halperin for his guidance and his help during the work on this thesis. I thank all the Cgal members in Tel-Aviv University for useful discussions and exchange of ideas.