prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital … decreases because of globalization for two important reasons. First, the expected return that investors require to invest in …

Globalization has been blamed for rising inequality in rich and poor countries. Yet the views of many protagonists in … empirical literature on the relationship between globalization and wage inequality. While the initial analysis that started in … cumulative effect has been modest, and that globalization does not explain the preponderance of the rise in wage inequality …

This paper presents the theoretical underpinnings of the MSG2 simulation model of the world economy. The MSG2 model is … a dynamic general equilibrium model of the world economy which pays particular attention to the relation between stocks … version presented here the world is divided into the U.S., Japan, Germany, the rest of the EMS, and the rest of the OECD, non …