This paper explores the effect of trade on the relative wage of less-skilled labor through its effect on world prices …

world. Why has this status come about? What are its costs and benefits? Is it an appropriate model for a world where …

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international … certainly nowhere near the levels predicted by theory. In addition, only industrial countries have attained better risk sharing … outcomes during the recent period of globalization. Developing countries have, by and large, been shut out of this benefit. The …

We examine the relationship between trade and financial globalization and the rise in inequality in most countries in … recent decades. We find technological progress as having a greater impact than globalization on inequality. The limited … overall impact of globalization reflects two offsetting tendencies: whereas trade globalization is associated with a reduction …

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the … financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely cited …

This paper studies the changes in world business cycles during 1960-2003. We employ a Bayesian dynamic latent factor … globalization period (1986-2003). The results indicate that the common (G-7) factor explains a larger fraction of output …, consumption, and investment volatility in the globalization period than in the BW period. These findings suggest that the degree …

globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies …

context of globalization-a term typically used to describe the phenomenon of growing international trade and financial …