Globalization, in the form of financial flows, which is always advantageous on an aggregative level, typically creates … winners and losers, if left exclusively to market forces. The effects of financial globalization on income inequality depends …-exporting case, financial globalization drives up return to savings and drives down wages. In the capital-importing case, financial …

Globalization radically changes income distribution and triggers intense international tax competition. Therefore …, globalization entails an extensive restructuring of the welfare state. We analyze a parsimonious model of an open economy, in its … the interactions between taxation, provision of social benefits, and globalization. We demonstrate how these interactions …

between the welfare state and globalization driving forces. Globalization - a widespread contemporaneous phenomenon … finances of the welfare state. Financial globalization facilitates reallocation of capital across borders. The increased … typical welfare state. Another major aspect of globalization, low skill migration, attracted to the welfare state may put …

In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of …-validating expectations. In this sense globalization destabilizes the economy. There can be substantial gains from globalization in the …

globalization, international tax competition, and the fading generosity of the welfare state. Financial globalization triggers a … key mechanism which links financial globalization to redistribution policy, this paper develops a stripped-down model … trade from financial globalization spread out to all …