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Tax Policy, Investments in Human and Physical Capital, and Productivity

Nerlove, Marc - 1990

This paper analyzes the implications of tax policy for the accumulation of human and physical capital and for the overall productivity level of the economy. A comprehensive income tax, applying to both labour income and capital income. discriminates against investments in human capital relative...

Persistent link: https://www.econbiz.de/10012475500

De-globalization : Driven by Global Crises?

Razin, Assaf - 2020

International trade increased rapidly after 1990, fueled by the growth of a complex network of global value chains. Financial globalization gathered force. Trade globalization, however, reversed course since the Global Financial Crisis. The new trend is expected to endure after the Global...

Persistent link: https://www.econbiz.de/10012482149

Financial Globalization and the Welfare State

Razin, Assaf - 2018

, where easing the country access to the world capital markets induces political-economy based policy changes that impact …

Persistent link: https://www.econbiz.de/10012452967

Globalization Policies and Israel’s Brain Drain

Razin, Assaf - 2017

Persistent link: https://www.econbiz.de/10012455430

The International Transmission and Effects of Fiscal Policies

Frenkel, Jacob A. - 1986

In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and … builds on a two-country model of the world economy which is applied to the analysis of the transmission and effects of …

Persistent link: https://www.econbiz.de/10012477278

The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy

Frenkel, Jacob A. - 1984

This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty … exert real effects. It is shown that a current budget deficit(resulting from a tax cut) raises world rates of interest. On … transmission. In the long run, a higher steady-state value of government debt raises the steady-state world rate of interest but …

Persistent link: https://www.econbiz.de/10012477559

Budget Deficits and Rates of Interest in the World Economy

Frenkel, Jacob A. - 1984

This paper deals with the international transmission of the effects of budget deficits on world rates of interest and … spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and … horizon was finite. This formulation generates asimple pattern of aggregate behavior of the two-country world, and it assures …

Persistent link: https://www.econbiz.de/10012477738

Equity Prices and Equity Flows : Testing Theory of the Information-Efficiency Tradeoff

Razin, Assaf - 2010

The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI-to-FPI price differential is negatively related to liquidity risk (the "Price Discount Hypothesis"). The idea is that market participants do not know whether the FDI investor...

Persistent link: https://www.econbiz.de/10012462005

Liquidity, Institutional Quality and the Composition of International Equity Flows

Goldstein, Itay - 2010

FDI investors control the management of the firms, whereas FPI investors delegate decisions to managers. Therefore, direct investors are more informed than portfolio investors about the prospects of projects. This information enables them to manage their projects more efficiently. However, if...

Persistent link: https://www.econbiz.de/10012462924

Liquidity, Institutional Quality and the Composition of International Equity Outflows

Goldstein, Itay - 2008

We examine the choice between Foreign Direct Investment and Foreign Portfolio Investment at the level of the source country. Based on a theoretical model, we predict that (1) source countries with higher probability of aggregate liquidity crises export relatively more FPI than FDI, and (2) this...

Persistent link: https://www.econbiz.de/10012464879