Following the notion of skill-biased FDI fl ows from developed to less developed regions, high-skilled workers are likely to benefi t from FDI to a larger extent. They earn a productivity advantage that potentially transfers into a skilled wage premium. This gives rise to distributional confl ict that might turn into heterogeneous attitudes toward FDI infl ows in line with skill. In this paper ...

Global Aging and Fiscal Policy with International Labor Mobility: A Political Economy Perspective This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the political structure composed of young and elderly voters in both labor-receiving and labor-s...

Tax incentives offered to attract firms engaged in foreign direct investment are often tied to performance requirements such as domestic content restrictions. The tax competition literature has repeatedly shown that competition between municipalities for mobile firms tends to drive taxes to low levels. One would expect a comparable result for burdensome performance requirements. Despite this, t...

The previous literature provides a highly ambiguous picture on the impact of trade and investment agreements on FDI. Most empirical studies ignore the actual content of BITs and RTAs, treating them as "black boxes", despite the diversity of investment provisions constituting the essence of these agreements. We overcome this serious limitation by analyzing the impact of modalities on the admissi...

This paper examines the impact of uncertain capital flows on growth to a group of 60 developing countries during the 1990s. We distinguish between total capital flows, official capital flows and private capital flows. For the three types of capital flows we derive a yearly uncertainty measure. We use the yearly uncertainty measures in ordinary least squares estimates, as well as system GMM esti...

Article history: Received 2 July 2012 Received in revised form 7 November 2013 Accepted 7 November 2013 Available online 22 November 2013 This paper proposes a simple multi-industry trade model with search frictions in the labor market. Unimpeded access to global financial markets enables capital owners to invest abroad, thereby fostering unemployment at the extensive industry margin. Whether a...

【Keyword】China, investment promotion agency, firm-level data, sample selection 【Abstract】This paper tries to verify how the establishment of investment promotion agencies (IPAs) affects the decisions of foreign firms regarding their subsequent investment by combining firm-level data from the World Bank’s Enterprise Survey with city-level information on (IPAs) in China. After correcting for pote...

The present paper thoroughly explores second-best efficient allocations in an adverse selection insurance economy. We start from a natural extension of the classical model, assuming less than perfect risk perceptions. We propose first and second welfare theorems, by means of which we describe efficiencyenhancing policies. Notions of weak and strong adverse selection are promising for interpreti...

Hepatitis C virus (HCV) helicase catalyzes the ATP-dependent strand separation of duplex RNA and DNA containing a 3' single-stranded tail. Equilibrium and velocity sedimentation centrifugation experiments demonstrated that the enzyme was monomeric in the presence of DNA and ATP analogues. Steady-state and pre-steady-state kinetics for helicase activity were monitored by the fluorescence changes...