particularly the incorporation of China and India into the world market economy. For 29 countries since 1919, the levels and trends …

Now in prospect is a major revision of international bank capital regulations that would embody recent advances in …

information heavily determines the pattern of international transactions. Our model integrates elements of the finance literature … on portfolio composition and the international macroeconomics and asset trade literature. Gross asset flows depend on …

In this article, we formulate a time-scale decomposition of an international version of the CAPM that accounts for both … upon the choice of the world market portfolio. In particular, the stock markets of the sampled countries appear to be more …

Lack of income convergence for the world as a whole has led to concerns about the impact of globalization of markets on … world inequality. GDP per capita is usually used to proxy for the quality of life of individuals living in different …

An optimal linear world income tax that maximizes a border-neutral social welfare function provides a drastic reduction … in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast an optimal decentralized (i ….e., within countries) redistribution has miniscule effect on world income inequality. Thus, the traditional public finance …

The world has seen two globalization booms over the past two centuries, and one bust. The first global century ended … with World War I and the second started at the end of World War II, while the years in between were ones of anti … concludes with four lessons of history and an agenda for international economists, including more attention to the impact of …