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Trade Openness, Investment Instability and Terms-of-Trade Volatility

Razin, Assaf - 2002

In the presence of economies of scale in the investment technology, trade openness may have non-conventional effects on the level of investment, its cyclical behavior, and the volatility of the terms of trade. Trade openness may lead to boom-bust cycles of investment supported by self-fulfilling...

Persistent link: https://www.econbiz.de/10012469374

Trade Openness and Investment Instability

Razin, Assaf - 2002

In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of investment and its cyclical behavior. Trade openness may lead to a discrete 'jump' in the level of investment, as it may trigger a discrete change in the terms of trade. Such a...

Persistent link: https://www.econbiz.de/10012469888

Bilateral FDI Flows : Threshold Barriers and Productivity Shocks

Razin, Assaf - 2005

A positive productivity shock in the host country tends typically to increase the volume of the desired FDI flows to … the host country, through the standard marginal profitability effect. But, at the same time, such a shock may lower the …-equilibrium increase in domestic input prices. This is the gist of the theory that we develop in the paper. For a sample of 62 OECD and Non …

Persistent link: https://www.econbiz.de/10012467038

How Migration Can Change Income Inequality?

Razin, Assaf - 2016

Motivated by the unique experience of Israel of a supply-side shock of skilled migration, and the concurrent rise in … disposable income inequality, this paper develops a model which can explain the mechanism through which a supply-side shock of …

Persistent link: https://www.econbiz.de/10012456484

Do Debt Flows Crowd Out Equity Flows Or the Other Way Round?

Razin, Assaf - 2000

In the presence of asymmetric information, the stage at which financing decisions are made about investment projects in a small open economy is crucial for the composition of international capital inflows as well as for the efficiency of channeling savings into investment. This paper compares...

Persistent link: https://www.econbiz.de/10012471014

Excessive FDI Flows Under Asymmetric Information

Razin, Assaf - 1999

In Razin, Sadka and Yuen (1998, 1999a), we explored the policy implications of the home-bias in international portfolio investment as a result of asymmetric information problems in which domestic savers, being 'close' to the domestic market, have an informational advantage over foreign portfolio...

Persistent link: https://www.econbiz.de/10012471385

Unskilled Migration : A Burden or a Boon for the Welfare State

Razin, Assaf - 1999

In a static setup, migration of unskilled labor may be resisted by the entire native-born population because, being relatively low earners, migrants are net beneficiaries of the fiscal system. However, the paper shows that with a pay-as-you-go pension, an important pillar of the welfare state,...

Persistent link: https://www.econbiz.de/10012471787

Fiscal and Migration Competition

Razin, Assaf - 2010

It is often argued that tax competition may lead to a "race to the bottom". Such a race may hold indeed in the case of the pure case of factor mobility (such as capital mobility). However, in this paper we emphasize the unique feature of labor migration, that may nullify the "race to the bottom"...

Persistent link: https://www.econbiz.de/10012462431

Migration and the Welfare State : A Dynamic Political-Economy Theory

Razin, Assaf - 2009

We develop a dynamic politico-economic theory of welfare state and immigration policies, featuring three groups of …

Persistent link: https://www.econbiz.de/10012463052

Migration and the welfare state : Dynamic Political-Economy Theory

Razin, Assaf - 2009

We develop a dynamic politico-economic theory of welfare state, featuring three groups of voters: skilled workers …

Persistent link: https://www.econbiz.de/10012463863