Technology Trade with Asymmetric Tax Regimes and Heterogeneous Labor Markets
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资源简介
The international diffusion of technology plays a key role in stimulating global growth and
explaining co-movements of international equity returns. Existing empirical evidence suggests
that countries are heterogeneous in their attitude toward innovation: Some countries
rely more on technology adoption while other countries rely more on internal technology
production. European countries that rely more on adoption are also typically characterized
by lower fiscal policy flexibility and higher labor market rigidity
explaining co-movements of international equity returns. Existing empirical evidence suggests
that countries are heterogeneous in their attitude toward innovation: Some countries
rely more on technology adoption while other countries rely more on internal technology
production. European countries that rely more on adoption are also typically characterized
by lower fiscal policy flexibility and higher labor market rigidity
