We review the debate on the association of financial globalization with inequality. We show that the within country distributional impact of capital account liberalization is context specific and that different types of flows have different distributional effects. Their overall impact depends on...

The recent vote by Britain to quit European Union (EU) and the political pressures in some member countries to exit EU necessitates a critical evaluation of the long-run economic benefits of economic integration or union to member countries. Consequently, this paper examines recent empirical...

The recent vote by Britain to quit European Union (EU) and the political pressures in some member countries to exit EU necessitates a critical evaluation of the long-run economic benefits of economic integration or union to member countries. Consequently, this paper examines recent empirical...

A growth model of a developing economy facing an upward sloping supply curve of debt is analyzed. Equilibrium is characterized by transitional dynamics in which consumption, capital, and debt converge to a common growth rate. The adjustment is through the debt-capital ratio, which drives the...

This paper aims to assess tax policy reforms that can sustain universal basic income programs and foster long-term growth and welfare in a currency union that faces fiscal rule constraints and inequality. To address this ongoing government and economics' debate, we developed a Dynamic Stochastic...