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 …

-style institutions? More generally, in an interdependent world, would we expect all countries to adopt the same institutions? To provide … theoretical answers to this question, we develop a simple model of economic growth in a world in which all countries benefit and … potentially contribute to advances in the world technology frontier. A greater gap of incomes between successful and unsuccessful …

and nontradables to study redistribution across different types of agents in a world characterized by the presence of …

The emergence of the Asian tiger countries and the participation of the ex-communist countries in world trade has …

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 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 …