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Vying for Foreign Direct Investment : A EU-type Model of Tax Competition

Razin, Assaf - 2006

This paper brings out the special mechanism through which taxes influence bilateral FDI, when investment decisions are two-fold in the presence of fixed setup flows costs. For each pair of source-host countries, there is a set of factors determining whether aggregate FDI flows will occur at all,...

Persistent link: https://www.econbiz.de/10012466680

Liquidity, Institutional Quality and the Composition of International Equity Flows

Goldstein, Itay - 2010

liquidity shocks, the liquidation price they can get will be lower when buyers know that they have more information on … expectation of future liquidity problems export relatively more FPI than FDI, and (2) this effect strengthens as the source … source countries from 1985 to 2004. Our key variable is the predicted severity of liquidity shock, as proxied by episodes of …

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

Liquidity, Institutional Quality and the Composition of International Equity Outflows

Goldstein, Itay - 2008

country. Based on a theoretical model, we predict that (1) source countries with higher probability of aggregate liquidity … 140 source countries from 1985 to 2004. Our key variable is the probability of an aggregate liquidity crisis, estimated … that the probability of a liquidity crisis has a strong effect on the composition of foreign equity investment. Furthermore …

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

A Brazilian Debt-Crisis Model

Razin, Assaf - 2002

We develop a model that captures important features of debt crises of the Brazilian type. Its applicability to Brazil lies in the fact that (1) in Brazil the macro fundamentals were sound (e.g., a primary surplus, a relatively low debt/GDP ratio, etc.); and (2) in the Brazilian case the trigger...

Persistent link: https://www.econbiz.de/10012469498

A Brazilian Debt-Crisis

Razin, Assaf - 2002

We develop a stylised model of multiple equilibria, with country risk spreads at the focus of the analysis. Fears that the country default on its debt triggers a reversal in the direction of inflows of international financial capital raise interest-rate spreads and thus the cost of servicing the...

Persistent link: https://www.econbiz.de/10012469550

Fiscal Policies and Real Exchange Rates in the World Economy

Frenkel, Jacob A. - 1986

This paper examines the effects of fiscal policies on the evolution of real rates of interest and real exchange rates in the interdependent world economy. We construct an analytical framework suitable for a detailed examination of the various channels through which these variables are influenced...

Persistent link: https://www.econbiz.de/10012477004

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 volatile real rates of tnterest, large fluctuations in real exchange rates, and significant variations in private-sector spending. This paper reviews some of the key facts...

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 concerning the length of life yields an equilibrium in which private and social rates of discount differ and budget deficits exert real effects. It is shown that a current budget...

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

Fiscal Policies, Debt, and International Economic Interdependence

Frenkel, Jacob A. - 1984

This paper deals with the relation between government spending and real rates of interest as well as with the international transmission of fiscal policies.The dependence of the patterns of consumption in one country on fiscal policiesin the rest of the world are examined. For this purpose a...

Persistent link: https://www.econbiz.de/10012477831

Migration and Fiscal Externality : US vs. Europe

Razin, Assaf - 2020

The paper compares migration policy and welfare state generosity between America and Europe. There is more selective skill-based migration policy in the US compared to the European Union. Policy coordination among states within the federal system on migration, taxes, and social benefits among...

Persistent link: https://www.econbiz.de/10012482345