This paper studies the effects of globalization on the ability of governments to generate tax revenues for the … size and factor abundance. It then draws on existing empirical evidence to outline the effects of globalization on capital …

We estimate a three-variate VAR using proxies of global financial uncertainty, the global financial cycle, and world … outbreak. We predict the cumulative loss in world output one year after the uncertainty shock due to Covid-19 to be about 14% …

the world output loss that materialized during the great recession would have been 13% lower in absence of GFU shocks. We … after GFU shocks, the larger the world output contraction is …

revealed). Using a lifecycle model with risk about the duration of life and risk about old-age dependence, it is shown that the …

The emergence of the Asian tiger countries and the participation of the ex-communist countries in world trade has … reduced the equilibrium price of labor in western Europe and elsewhere. However, the actual price of labor hardly reacts …

examine this prediction using a new measure of economic uncertainty, the World Uncertainty Index and focus on data from 126 …

We assess to which degree an international transfer mechanism can enhance consumption risk sharing as well as … analyze the changing dynamics that a EUBS brings about. We find that a EUBS can provide risk sharing by stabilizing relative …-spending shocks. Yet, since this trade-off between allocative efficiency and consumption risk sharing does not exist after certain …

proposing a novel news media-based measure of climate change transition risk and show that when such risk is high, major …

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …