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 …

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 …

The paper provides a unified analysis of globalization effects on the Phillips curve and monetary policy, in a New … inflation and activity. If policy makers are guided by the welfare criterion of the representative household, globalization …

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 …

The note analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare …

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 … trade and finance transactions with the rest of the world, governed by voter-majority-controlled welfare state. We analyze …

The paper analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare …

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