I. Introduction Restrictions on the international mobility of labor are arguably the single largest policy distortion that besets the international economy. A variety of studies suggest that even a small reduction in barriers to migration will result in large welfare benefits to the global economy. In this lecture I focus on a central tension faced by policy makers in countries that receive mig...

The Expansionary Fiscal Contraction (EFC) hypothesis predicts that a major fiscal consolidation leads to an economic expansion under certain circumstances. We test this hypothesis, and the implied non–linear responses of the economy to large and small changes in fiscal policy, using data from the 1983 Danish fiscal reform. We use a structural VAR/event study methodology following Blanchard and ...

Electronic business (e-business) had been popularly lauded as “new economy.” As results, firms are prompted to invest heavily in e-business related activities such as supplier/procurement and online exchanges. Whether those investments have actually paid off for those firms remain largely unknown. Using the data on the top 100 e-business leaders compiled by InternetWeek, we compare the leaders ...

ness of an element is the ratio of in-degrees over in-degrees plus out-degrees of the element, and ranges from 0 to l (Pieters et al. 1995). Elements with high abstractness scores are

The present study is the second is a series of three papers devoted to issues in the measurement of productivity and productivity growth. The contributions of the present paper are three. First, it introduces a new approach to measuring industrial productivity based on income-side data that are published by the Bureau of Economic Analysis (BEA). The data are internally consistent in that both i...

Global economy has formed a huge challenge to the trust of traditional business. It’s a important problem of all enterprise how to build a effective trust institution in the new economy. The rapid development of E-business is bringing a turning point of trust institution. In traditional trust institution, trust means that principal controls the agent in fact. The evolution of trust institution ...

Not long ago, everyone was talking about the New Economy. Recent events — notably the global economic slowdown and a possible impending war — have crowded out discussions of the New Economy. To be sure, some of the rosy scenarios portrayed at the time — most notably, that the New Economy portended the end of the business cycle — seem curiously dated. Indeed, in terms of the gap between the econ...

Over the past few decades the brisk development of information and communication technologies (ICT) has had a phenomenal impact on the economic stability and development of many countries. Empirical studies show that most developed economies have gained significant payoffs (in terms of economic growth) from their ICT investments. This study investigates the hypothesis that ICT-based investment ...

This work proposes LEASE, a novel Mobile-P2P lease-based economic incentive model, in which data requestors need to pay the price (in virtual currency) of their requested data items to data-providers. In LEASE, data-providing mobile peers lease data items to other mobile peers in lieu of a lease payment. The main contributions of LEASE are three-fold. First, its lease model entices even those u...

This paper outlines an ongoing research project on training, education and sharing of experiences among mobile people, also referred to as nomads. The importance for professionals to continuously learn is widely recognized. Organizations in the new economy are dependent on organizational knowledge and competence. Mobile workers need alternative educational and knowledge development opportunitie...