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Using an endogenous growth model in an open economy, we study the impact of minimum wages on growth for an innovator country. We state that a minimum wage shifts efforts from production to R&D, but only in an open economy. Thus, it speeds up long-run growth in proportional to exports. Calibrations suggest the growth surplus can be significant. An empirical study on 11 OECD countries illustrates these results. The impact on welfare is ambiguous because the minimum wage induces unemployment. However, we show that in an open economy, a minimum wage associated with unemployment benefits can Pareto dominate laissez-faire. JEL classification: E1; F43; J31 Keywords: Minimum wage; Endogenous growth; Welfare; Exports

Byline: Jesus P. Bonilla (1) Keywords: economics of science; empirical progress; epistemic utility; research programmes; scientific progress; theoretical progress; verisimilitude methodonomics Abstract: Some peculiarities of the evaluation of theorieswithin scientific research programmes (SRPs) and of theassessing of rival SRPs are described assuming that scientiststry to maximise an `epistemic utility function' under economicand institutional constraints. Special attention is given toLakatos' concepts of `empirical progress' and `theoreticalprogress'. A notion of `empirical verisimilitude' is defendedas an appropriate utility function. The neologism'methodonomics' is applied to this kind of studies. Author Affiliation: (1) Departamento de Logica y Filosofia de la CienciaFacultad de Filosofia, U.N.E.D., 28040, Madrid, Spain Article History: Registration Date: 30/09/2004

Issues concerning the relationship between information corporate research and development (R&D) departments have access to and the incidence of insider trading are examined. Topics include the conclusion that insider trading gains in firms with R&D departments are higher than those without R&D, that transactions occur when R&D budgets fluctuate, thatnd R&D departments contribute to information asymmetry between managers and investors.

A study was conducted to analyze how financial institutions influence technological innovation and affect growth. The popularity of external financing as a medium to harden budget constraints was examined. The functions supported by financial institutions in research and development was then discussed. Results indicated that external financing is high in pharmaceutical, electronics and computer industries, especially when companies are young.

Research was conducted to determine the reasons why referees for journals are often paid nothing for their work. A simple model that illustrates how monetary payments, which can motivate referee performance, are not used by editors. The model is based on the interaction between the potential referee and the editor-publisher of a journal. Results indicate that a concern for quality leads to the failure of both editors and referees to internalize fully the effects of their choices on others.

Industrial and academic research results in job creation through geographic spillovers of technology. This is seen in studies of businesses incubated by US and UK universities as well as a ranking of high-technology employment in 22 metropolitan statistical areas in the US. These showed that high-technology employees earn higher-than-average wages and that high-technology employment increases by eight percent each time university research is doubled.

Mexico's Free Trade Agreement with the US may be responsible for fostering research in Mexico by making it easier to import equipment from North America. The Mexican research establishments hope to recruit technocrats from Central Europe and Russia to overcome the shortage of qualified scientists and engineers. Despite the recent assassination of a presidential candidate, the improvement of Mexico's science may continue.

Academic institutions can be made beneficial to the biotechnology industry through the transfer of information, technical expertise, materials and potential products. Commercialization of research is very important not only for the inventors, but also for the university and the industry. The universities, to be more actively involved in this process, should employ expert patent agents, who will be superior to university administrators in the area of technological transfer, will educate academicians on various ways of patenting and commercialization and help file preliminary patent applications.

RESEARCHERS AT PRIVATE UNIVERSITIES grumble endlessly about overhead charges levied against their grants. Usually the grumbling just simmers below the surface. But last fall, the faculty of Stanford University erupted [...]

The American people have just enjoyed a decade of unprecedented prosperity of a magnitude beyond all reasonable expectation, largely because of the fundamental advances achieved through university research sponsored by [...]

THE EUROPEAN COMMUNITY (EC) HAS FOUND ways to systematically benefit underrepresented minorities and less research-intensive regions through the distribution of research funds. Raising the level of research performance and excellence [...]

Academic scientists are hoping that two new reports calling for increased funding of research and innovation will finally boost a stagnant R&D budget MELBOURNE, AUSTRALIA--The recent slide of the Australian [...]

SIR--Your Editorial 'Unbalanced portfolio' (Nature 453, 1144; 2008) defends the scientific autonomy of researchers against pressure from bureaucrats seeking maximum economic returns. Although this position is admirable and likely to [...]