This article examines the impact of environmental regulation within countries as well as regulatory distance between countries on international technology transfer. We employ a recently-assembled dataset of automobile emission standards and corresponding data on non-resident patent filing of automotive environmentally sound technologies (ESTs) in 49 countries between 1992 and 2007. Our analysis...

This paper investigates the degree to which single Ph.D.-trained workers, both domestic and foreign-born, face trade-offs between marriage and labor market opportunities. Facing dual thin labor and marriage markets, highly trained foreign-born singles may be forced to choose between metropolitan areas that offer better employment opportunities or better marriage markets. Using U.S. Census data,...

In recent years, however, domestic bond markets have constituted a growing source of financing for Latin American economies and of portfolio allocation for global investors (Figure 1). This has called into question the view that countries in the region cannot borrow in local currency at longer maturities, sometimes referred to as the “original sin” hypothesis. The expansion of these markets has...

In this paper, we present Nash bargaining models that describe foreign firms’ and host countries’ decisions on foreign direct investment (FDI) when host country product markets are characterized by certain types of market structures. We show that, under certain conditions, the host country and foreign parent firm (FP) are both better off in equilibrium if FP chooses to form a joint venture (JV)...

Although immigration of workers generates a positive externality on members of domestic pension systems, many countries are very reluctant to allow foreigners into their labor markets. In a political economic framework, we explain this voting outcome by considering a young unskilled median voter who faces – in addition to a reduction of contribution rates – negative effects from immigration as ...

This paper examines the process of price discovery in the MTS system, which builds on the parallel quoting of euro-denominated government securities on a number of (relatively large) domestic markets and on a (relatively small) European marketplace (EuroMTS). Using twenty-seven months of daily data for 107 pairs of bonds, we present unambiguous evidence that trades on EuroMTS have a sizeable in...

A long-held belief in industrial economics is that extending the size of the market reduces concentration and diminishes the ability of firms to exercise market power. At its simplest, this proposition stems from the idea that larger markets will be able to support a greater numbers of firms, and that the presence of more firms leads to more competitive pricing. This belief has had particular a...

Foot-and-mouth disease (FMD) is a highly contagious viral disease of all cloven-hoofed animals, characterized by fever and vesicle formation in the mouth and on the feet. Economically, it is the most important disease of animals in the world.1 Period. Presence of this disease in a national herd destroys all export possibilities and hinders production so severely that profits for the domestic ma...

SARS coronavirus injected intratracheally into chickens, turkeys, geese, ducks, and quail, or into the allantoic sac of their embryonating eggs, failed to cause disease or replicate. This finding suggests that domestic poultry were unlikely to have been the reservoir, or associated with dissemination, of SARS coronavirus in the animal markets of southern China.

Influenza A viruses are a threat to poultry and human health. We investigated evolution of influenza A virus H7 and N9 subtypes in wild and domestic birds. Influenza A(H7N9) virus probably emerged after a long silent circulation in live poultry markets in eastern Asia.