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 … on whether the country exports its capital to the rest of the world or imports capital from abroad. In the capital …

Globalization, in the form of financial flows, which is always advantageous on an aggregative level, typically creates … policies, governed by a majority of the population, spreads the globalization's gains from trade to all income groups, even … those who are low skilled and have small capital endowments. Therefore, financial globalization of a welfare-state economy …

source-based tax schemes) is essential for the existence of an equilibrium in an integrated world economy …

and international trade in goods and securities.In our model, the world allocation of capital is governed, to some extent … world of certaint and may hinge on the identity of the factor which is used intensively in the industry with random …

rest of the world are examined. For this purpose a general equilibrium model which is characterized by fully integrated … world capital marketsis constructed, economic agents behave rationally, and government policies are constrained to obey the …

implication of the theory is that globalization forces could induce monetary authorities, to put a greater emphasis on reducing …