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Effective tax rates in macroeconomics: Cross-country estimates of tax rates on factor incomes and consumption

Full text - MIT Libraries
EG Mendoza, A Razin… - Journal of Monetary Economics, 1994 - Elsevier
Abstract This paper proposes a method for computing tax rates using national accounts and
revenue statistics. Using this method we construct time series of tax rates for large industrial
countries. The method identifies the revenue raised by different taxes at the general ...
Cited by 875 - Related articles - Library Search - BL Direct - All 14 versions

Fiscal policies in the world economy

JA Frenkel… - The Journal of Political Economy, 1986 - JSTOR
This paper uses a two-country general equilibrium model of the world economy in order to
analyze the effects of budget deficits and government spending on world rates of interest,
consumption, and international indebtedness. It demonstrates the difference between the ...
Cited by 504 - Related articles - Get it from MIT Libraries - Library Search - All 9 versions

The terms of trade and the current account: The Harberger-Laursen-Metzler effect

LEO Svensson… - The Journal of Political Economy, 1983 - JSTOR
The paper examines the effect of terms-of-trade changes on a small country's spending and
current account, assuming optimizing behavior in an intertemporal framework with perfect
international capital mobility. A temporary (future) terms-of-trade deterioration implies a ...
Cited by 443 - Related articles - Get it from MIT Libraries - All 6 versions

[PDF] Current Account Reversals and Currency Crises, Empirical Regularities

[PDF] from nber.org
GMM Ferretti… - 2000 - nber.org
Three waves of external crises have swept international capital markets during the 1990s:
the European Monetary System crisis in 1992-93, the collapse of the Mexican peso with its
induced “tequila” effects, and, most recently, the financial crisis in East Asia. In Italy and ...
Cited by 420 - Related articles - View as HTML - Library Search - BL Direct - All 14 versions

Current account sustainability: selected East Asian and Latin American experiences

[PDF] from tu.ac.th
GM Milesi-Ferrett… - 1997 - nber.org
A number of developing countries have run large and persistent current account deficits in
both the late seventies/early eighties and in the early nineties, raising the issue of whether
these persistent imbalances are sustainable. This paper puts forward a notion of current ...
Cited by 339 - Related articles - Library Search - BL Direct - All 22 versions

[BOOK] Fiscal policies and growth in the world economy

[PDF] from uni-muenchen.de
JA Frenkel, A Razin… - 1996 - books.google.com
Covering a full array of topics in open economy macro and public economics, Fiscal Policies
and Growth in the World Economy has been thoroughly revised and extended. The added
material in this new edition includes stochastic rational-expectations extensions of the ...
Cited by 297 - Related articles - Get it from MIT Libraries - Library Search - All 16 versions

International tax competition and gains from tax harmonization

A Razin… - 1991 - nber.org
ABSTRACT In a world economy there are two types of distortions which can be cauaed by
capital income taxation in addition to the standard closed-economy wedge between the
consumer-saver marginal intertemporal rate of substitution and the producer-investor ...
Cited by 291 - Related articles - Library Search - All 12 versions

[BOOK] International taxation in an integrated world

[PDF] from uni-muenchen.de
JA Frenkel, A Razin… - 1991 - books.google.com
The ongoing process of increased integration of national economies, culminating in the
single European market of 1992, still leaves as virtually separate the national fiscal systems.
In this book international economists Jacob Frenkel and Assaf Razin join forces with ...
Cited by 245 - Related articles - Get it from MIT Libraries - Library Search - All 11 versions

A theory of international trade under uncertainty

E Helpman… - MPRA Paper, 1978 - ideas.repec.org
Book delves with the puzzle that assets play important role in the theory of international
finance but hardly any any role in the theory of international trade. Where this dichotomy
comes from? Main feature is that trade in assets may interact in an important ways with ...
Cited by 206 - Related articles - Cached - Library Search - All 8 versions

Tax burden and migration: A political economy theory and evidence

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A Razin, E Sadka… - Journal of Public Economics, 2002 - Elsevier
The extent of taxation and redistribution policy is generally determined as a political-
economy equilibrium by a balance between those who gain from higher taxes/transfers and
those who lose. The standard theory of the size of government in a representative ...
Cited by 195 - Related articles - Library Search - BL Direct - All 14 versions

The aging population and the size of the welfare state

[PDF] from tau.ac.il
A Razin, E Sadka… - 2001 - nber.org
Data for the United States and countries in Western Europe indicate a negative correlation
between the dependency ratio and labor tax rates and the generosity of social transfers,
after controlling for other factors that influence the size of the welfare state. This is despite ...
Cited by 192 - Related articles - Library Search - BL Direct - All 34 versions

[BOOK] Population economics

A Razin… - 1995 - books.google.com
From Malthus to Becker, the economic approach to population growth and its interactions
with the surrounding economic environment has undergone a major transformation.
Population Economics elucidates the theory behind this shift and the consequences for ...
Cited by 177 - Related articles - Get it from MIT Libraries - Library Search - All 9 versions

Sharp reductions in current account deficits an empirical analysis

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G Maria Milesi-Ferretti… - European Economic Review, 1998 - Elsevier
We study determinants and consequences of sharp reductions in current account
imbalances (reversals) in low-and middle-income countries. We pose two questions: what
triggers reversals, and what factors explain how costly reversals are? We find that both ...
Cited by 164 - Related articles - Library Search - BL Direct - All 14 versions

The dynamic-optimizing approach to the current account: theory and evidence

A Razin - 1995 - nber.org
The organization of this paper is as follows. Section I builds an empirically implementable
model of the current account. Likewise, Section II derives the essential time series properties
of the real exchange rate. Positive implications of the intertemporal approach against ...
Cited by 161 - Related articles - Library Search - BL Direct - All 11 versions

An intergenerational model of population growth

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A Razin… - The American Economic Review, 1975 - JSTOR
The problem of population growth has been only partially formulated in an intertemporal
context. Therefore, a link between population theory and economic growth theory is still
missing.'This paper attempts to provide such a link by analyzing an intergenerational ...
Cited by 162 - Related articles - Library Search - All 11 versions

Sustainability of persistent current account deficits

GM Milesi-Ferrett… - 1996 - nber.org
This paper puts forward a notion of current account sustainability that explicitly takes into
account willingness to pay and willingness to lend in addition to intertemporal solvency. It
argues that this notion of sustainability provides a better framework for understanding the ...
Cited by 159 - Related articles - Library Search - BL Direct - All 8 versions

A pecking order of capital inflows and international tax principles

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A Razin, E Sadka… - Journal of International Economics, 1998 - Elsevier
Even though financial markets today show a high degree of integration, the world capital
market is still far from the textbook story of high capital mobility. The purpose of this paper is
to highlight key sources of market failure in the context of international capital flows and to ...
Cited by 152 - Related articles - Library Search - BL Direct - All 18 versions

Business cycle volatility and openness: An exploratory cross-section analysis

A Razin… - 1994 - nber.org
This paper links business cycle volatility to barriers on international mobility of goods and
capital. Theory predicts that capital market integration should lower consumption volatility
while raising investment volatility, if most shocks are country-specific and transitory. The ...
Cited by 143 - Related articles - Library Search - BL Direct - All 9 versions

Migration and pension with international capital mobility

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A Razin… - Journal of Public Economics, 1999 - Elsevier
Being relatively low earners, migrants are net beneficiaries of the welfare state. Therefore, in
a static set-up, migration may be resisted by the entire native-born population. However, it is
shown that in a dynamic set-up, with a pension system (which is an important pillar of any ...
Cited by 142 - Related articles - All 12 versions

[HTML] How beneficial is foreign direct investment for developing countries?

[HTML] from naver.com
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P Loungani… - Finance and Development, 2001 - blog.naver.com
The resilience of foreign direct investment during financial crises may lead many developing
countries to regard it as the private capital inflow of choice. Although there is substantial
evidence that such investment benefits host countries, they should assess its potential ...
Cited by 132 - Related articles - Cached - BL Direct - All 7 versions

The global disconnect: the role of transactional distance and scale economies in gravity equations

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P Loungani, A Mody… - Scottish Journal of Political …, 2002 - Wiley Online Library
Recent empirical analyses show that asset flows can be modelled by the same
'gravity'equations that trade economists have used so successfully for the past few decades.
This is something of a surprise. Trade economists do not yet have a unified theory of why ...
Cited by 128 - Related articles - BL Direct - All 8 versions

[CITATION] Household and economy: Welfare economics of endogenous fertility

M Nerlove, A Razin… - 1987 - getcited.org
An academic directory and search engine.
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The Mundell-Flemming Model: A Quarter Century Later

[PDF] from google.com
J Frenkel… - 1989 - nber.org
The Mundell-Fleming model of international macroeconomics originated in the writings of
Robert A. Mundell and J. Marcus Fleming in the early 1960s. The key contribution of the
model has been a systematic analysis of the role played by international capital mobility in ...
Cited by 122 - Related articles - Library Search - All 16 versions

Resisting migration: wage rigidity and income distribution

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A Razin… - The American Economic Review, 1995 - JSTOR
The conventional wisdom of welfare economics is that a free flow of goods and factors of
production (including labor) enhances the efficiency of the allocation of resources. Migration,
which typically shifts workers from economies with low productivity of labor to economies ...
Cited by 106 - Related articles - Library Search - BL Direct - All 12 versions

Unskilled migration: A burden or a boon for the welfare state?

[PDF] from colman.ac.il
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A Razin… - The Scandinavian Journal of Economics, 2000 - Wiley Online Library
As relatively low earners, migrants are net beneficiaries of the welfare state. Therefore, in a
static setup, migration may be resisted by the entire native-born population. However, it is
shown that in a dynamic setup with a pension system, which is an important pillar of any ...
Cited by 104 - Related articles - Library Search - BL Direct - All 20 versions

The 'New Keynesian'Phillips curve: closed economy versus open economy

[PDF] from hku.hk
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A Razin… - Economics Letters, 2002 - Elsevier
The paper extends Woodford's [Optimizing models with nominal rigidities, Chapter 3 of
Interest and prices: foundations of a theory of monetary policy, Princeton University, 2000;
unpublished manuscript] analysis of the closed economy Phillips curve to an open ...
Cited by 99 - Related articles - Library Search - BL Direct - All 24 versions

Exchange Rate Management: Intertemporal Tradoffs

E Helpman… - 1987 - nber.org
The management of the exchange rate is possible only if the government pursues a
monetary-fiscal policy mix which is consistent with its exchange rate targets. In this paper
with uncertainty concerning the length of individual life the real consequences of ...
Cited by 94 - Related articles - Library Search - All 10 versions

A comparison of exchange rate regimes in the presence of imperfect capital markets

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E Helpman… - International Economic Review, 1982 - JSTOR
The renewed interest in systematic evaluations of exchange rate regimes has brought about
new approaches which are based on macroeconomic foundations, including
macroeconomic foundations of monetary theory (see Helpman and Razin [1979], Kareken ...
Cited by 88 - Related articles - Library Search - All 6 versions

Efficient investment incentives in the presence of capital flight

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A Razin… - Journal of International Economics, 1991 - Elsevier
Abstract This paper examines the efficiency of quantity restrictions on capital exports and the
accompanying set of taxes. When a government can effectively tax foreign-source income,
then it is not efficient to impose restrictions on capital exports and the optimal tax rates on ...
Cited by 84 - Related articles - Library Search - All 6 versions

Capital income taxation and long-run growth: New perspectives

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A Razin… - Journal of Public Economics, 1996 - Elsevier
We study the effects of capital income taxation on long-run growth in an endogenous growth
framework with two distinguishing features: endogenous population and international capital
mobility. Endogenizing population growth introduces a new channel for taxes to affect ...
Cited by 80 - Related articles - Library Search - BL Direct - All 14 versions

[BOOK] The economy of modern Israel: Malaise and promise

A Razin… - 1993 - books.google.com
In this up-to-date study of the Israeli economy, Assaf Razin and Efraim Sadka cover the
entire economic history of the state, focusing on links between Israel's economic growth, its
integration into world markets, its tax and welfare systems, and the political conflicts in the ...
Cited by 79 - Related articles - Get it from MIT Libraries - Library Search - All 2 versions

An information-based trade off between foreign direct investment and foreign portfolio investment

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I Goldstein… - Journal of International Economics, 2006 - Elsevier
The paper develops a model of foreign direct investments (FDI) and foreign portfolio
investments (FPI). FDI enables the owner to obtain refined information about the firm. This
superiority, relative to FPI, comes with a cost: a firm owned by the FDI investor has a low ...
Cited by 79 - Related articles - Library Search - BL Direct - All 30 versions

Testing Ricardian neutrality with an intertemporal stochastic model

L Leiderman… - 1989 - nber.org
The purpose of this paper is to develop and estimate a stochastic-intertemporal model of
consumption behavior and to use it for testing a version of the Ricardian-equivalence
proposition with time series data. Two channels that may give rise to deviations from this ...
Cited by 77 - Related articles - Library Search - All 10 versions

Dynamics of a floating exchange rate regime

[PDF] from harvard.edu
E Helpman… - The Journal of Political Economy, 1982 - JSTOR
We study the full equilibrium dynamics of a two-country world economy with a floating
exchange rate, traded and nontraded goods, and explicit modeling of the use of money. The
resulting exchange rate equation depends on several details of the economic structure, ...
Cited by 78 - Related articles - Get it from MIT Libraries - Library Search - All 8 versions

Stochastic prices and tests of efficiency of foreign exchange markets

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JA Frenkel… - Economics Letters, 1980 - Elsevier
Abstract This paper shows that typical specifications of efficiency tests of foreign exchange
markets are strictly valid only when individuals are risk neutral and prices are non-
stochastic. Empirically, however, the neglect of these factors is shown to be of little ...
Cited by 74 - Related articles - All 8 versions

Government spending, debt, and international economic interdependence

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JA Frenkel… - The Economic Journal, 1985 - JSTOR
The increased integration of the world economy has resulted in increased concern in each
country over policy measures taken in the rest of the world. A major topic of recent analysis
has focused on the impact of government spending and budget deficits on key ...
Cited by 76 - Related articles - Library Search - All 6 versions

International migration and international trade

A Razin… - Handbook of population and family economics, 1997 - Elsevier
This is the background image for an unknown creator of an OCR page with image plus
hidden text. Chapter15 INTERNATIONAL MIGRATION AND INTERNATIONAL TRADE
ASSAF RAZIN and EFRAIM SADKA* Tel-Aviv University Contents 1. Introduction 852 2. ...
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Trade taxes and the current account

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A Razin… - Economics Letters, 1983 - Elsevier
Abstract We show that, under some conditions, a temporary import tariff improves the current
account, whereas a temporary export tax deteriorates it. Permanent import tariffs and export
taxes have an identical, although ambiguous, effect on the current account.
Cited by 61 - Related articles - All 5 versions

Towards a consistent comparison of alternative exchange rate systems

E Helpman… - Canadian Journal of Economics, 1979 - JSTOR
Several elements are required for a consistent comparison of alternative exchange rate
systems. Most notable are an intertemporal budget constraint and similar financial market
structures. Welfare valuations should be based on equilibrium utility levels. Some simple ...
Cited by 61 - Related articles - Get it from MIT Libraries - All 6 versions

The role of saving and investment in exchange rate determination under alternative monetary mechanisms

Full text - MIT Libraries
E Helpman… - Journal of Monetary Economics, 1984 - Elsevier
Abstract We argue that the demand for national currencies depends on existing payment
arrangements for imports and exports. Therefore, exchange rate movements depend on
these arrangement. As a result, the relationship between exchange rate movements and ...
Cited by 59 - Related articles - Library Search - All 5 versions

The Role of Information in Driving FDI Flows: Host-Country Tranparency and Source Country Specialization

[PDF] from psu.edu
A Mody, A Razin… - 2003 - nber.org
We develop a simple information-based model of FDI flows. On the one hand, the
abundance of intangible'capital in specialized industries in the source countries, which
presumably generates expertise in screening investment projects in the host countries, ...
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Uncertainty and international trade in the presence of stock markets

Full text - MIT Libraries
E Helpman… - The Review of Economic Studies, 1978 - restud.oxfordjournals.org
Like many other branches of economic theory, international trade theory has experienced
growing interest in uncertainty problems during the last few years. Several sources of
uncertainty were examined: uncertainty in preferences, which induces uncertainty in the ...
Cited by 58 - Related articles - Library Search - All 7 versions

Comprehensive income taxation, investments in human and physical capital, and productivity

Full text - MIT Libraries
M Nerlove, A Razin, E Sadka… - Journal of Public …, 1993 - Elsevier
Abstract This paper analyses the implications of the comprehensive income tax for the
accumulation of human and physical capital and for the overall productivity level of the
economy. A comprehensive income tax, applying to both labour income and capital ...
Cited by 58 - Related articles - Library Search - All 8 versions

The international transmission and effects of fiscal policies

J Frenkel… - 1986 - nber.org
In recent years the world economy has been subject to large and unsyncronized changes in
fiscal policies, high and volatile real rates of tnterest, large fluctuations in real exchange
rates, and significant variations in private-sector spending. This paper reviews some of the ...
Cited by 56 - Related articles - Library Search - All 12 versions

Capital mobility and the output–inflation tradeoff

[PDF] from federalreserve.gov
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P Loungani, A Razin… - Journal of Development Economics, 2001 - Elsevier
Identifying determinants of the output–inflation tradeoff has been a key issue in business
cycle research. We provide evidence that in countries with greater restrictions on capital
mobility, a given reduction in the inflation rate is associated with a smaller loss in output. ...
Cited by 55 - Related articles - Library Search - BL Direct - All 21 versions

Excessive FDI flows under asymmetric information

[PDF] from frb.org
A Razin, E Sadka… - 1999 - nber.org
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 ...
Cited by 52 - Related articles - Library Search - BL Direct - All 16 versions

Welfare Migration: Is the Net Fiscal Burden a Good Measure of Its Economic Impact on the Welfare of the Native Born Population?

[PDF] from ifo-dresden.de
A Razin… - 2004 - nber.org
Migration of young workers (as distinct from retirees), even when driven in by the generosity
of the welfare state, slows down the trend of increasing dependency ratio. But, even though
low-skill migration improves the dependency ratio, it nevertheless burdens the welfare ...
Cited by 51 - Related articles - BL Direct - All 38 versions

Capital movements, intersectoral resource shifts and the trade balance

Full text - MIT Libraries
A Razin - European Economic Review, 1984 - Elsevier
In this paper I consider the interactions between the internal structure of the economy and its
external balance. In an intertemporal set-up with perfect foresight a simple pattern emerges
current account deficits are associated with depreciating real exchange rates. The ...
Cited by 48 - Related articles - Library Search - All 4 versions

[CITATION] Increasing returns, monopolistic competition, and factor movements: A welfare analysis

Full text - MIT Libraries
E Helpman… - Journal of International Economics, 1983 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
Cited by 47 - Related articles - Cached - Library Search - All 5 versions

Which Countries Export FDI, and How Much?

[PDF] from cornell.edu
A Razin, Y Rubinstein… - 2003 - nber.org
The paper provides a reconciliation of Lucas' paradox, based on fixed setup costs of new
investments. With such costs, it does not pay a firm to make a small'investment, even though
such an investment is called for by marginal productivity conditions. Using a sample of 45 ...
Cited by 47 - Related articles - BL Direct - All 49 versions

[BOOK] Labor, Capital, and Finance: International Flows

A Razin… - 2001 - books.google.com
Traditional textbook analysis of international trade and labour movements typically ignores
basic features of the welfare state. Similarly, the theory of finance and capital structure
seldom treats international capital flows and their implications for central macroeconomic ...
Cited by 45 - Related articles - Get it from MIT Libraries - Library Search - All 9 versions

International capital movements under uncertainty

GM Grossman… - 1984 - nber.org
In this paper, we analyze the determinants of international movements of physical capital in
a model with uncertainty and international trade in goods and securities. In our model, the
world allocation of capital is governed, to some extent, by the asset preferences of risk ...
Cited by 45 - Related articles - Library Search - All 11 versions

Fiscal policies, debt, and international economic interdependence

J Frenkel… - 1986 - nber.org
This paper deals with the relation between government spending and real rates of interest
as well as with the international transmission of fiscal policies. The dependence of the
patterns of consumption in one country on fiscal policiesin the rest of the world are ...
Cited by 44 - Related articles - Library Search - All 8 versions

[BOOK] Taxation in the global economy

A Razin… - 1992 - books.google.com
The increasing globalization of economic activity is bringing an awareness of the
international consequences of tax policy. The move toward the common European market in
1992 raises the important question of how inefficiencies in the various tax systems—such ...
Cited by 44 - Related articles - Get it from MIT Libraries - Library Search - All 9 versions

FDI contribution to capital flows and investment in capacity

[PDF] from psu.edu
A Razin - 2002 - nber.org
The paper surveys a theory of FDI, which captures a unique feature: hands-on management
standards, that enable investors to react in real time to a changing economic environment.
Equipped with superior managerial skills, foreign direct investors are able to outbid ...
Cited by 43 - Related articles - BL Direct - All 24 versions

Globalization and inflation-output tradeoffs

[PDF] from mecon.gov.ar
A Razin… - 2005 - nber.org
We demonstrate how capital account and trade account liberalizations help reduce
inefficiencies associated with the fluctuations in the output gap, relative to the inefficiencies
associated with the fluctuations in inflation. With capital account liberalization the ...
Cited by 44 - Related articles - Library Search - BL Direct - All 34 versions

Gains from FDI inflows with incomplete information

[PDF] from tau.ac.il
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A Razin… - Economics Letters, 2003 - Elsevier
The paper develops an international macroeconomic model of FDI flows with a unique
feature: a hands-on management ability to react in real time to changing economic
environments. Anticipating this advantage, foreign direct investors can outbid other ...
Cited by 43 - Related articles - Library Search - BL Direct - All 15 versions

International fiscal policy coordination and competition: an exposition

A Razin… - 1995 - nber.org
The paper highlights key considerations necessary for the analysis of international tax
competition and the desirability of international tax harmonization. The analysis of a Nash-
Cournot international tax competition is carried out for (1) competing countries that cannot ...
Cited by 41 - Related articles - Library Search - All 9 versions

The current account and the optimal government debt

Full text - MIT Libraries
A Razin… - Journal of International Money and Finance, 1983 - Elsevier
Abstract In this paper we analyze the optimal response of the current account and the
government debt to real disturbances, permanent and temporary. Lumpsum taxes are not
feasible and the government income is raised according to the Ramsey rule for optimum ...
Cited by 39 - Related articles - Library Search - All 5 versions

[BOOK] Foreign Direct Investment: Analysis of Aggregate Flows

[PDF] from uni-muenchen.de
A Razin… - 2008 - books.google.com
The 1990s saw global flows of foreign direct investment increase some sevenfold, spurring
economists to explore FDI from a micro-or trade-based perspective. Foreign Direct
Investment is one of the first books to analyze the macroeconomics of FDI, treating FDI as ...
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[CITATION] Spending, Taxes, and Deficits: International-Intertemporal Approach

JA Frenkel… - 1988 - getcited.org
An academic directory and search engine.
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An information-based model of foreign direct investment: The gains from trade revisited

[PDF] from hku.hk
Full text - MIT Libraries
A Razin, E Sadka… - International Tax and Public Finance, 1999 - Springer
Foreign direct investment (FDI) is observed to be a predominant form of capital flows to
emerging economies, especially when they are liquidity-constrained internationally during a
global financial crisis. The financial aspects of FDI are the focus of this paper. We analyze ...
Cited by 36 - Related articles - Library Search - BL Direct - All 17 versions

[CITATION] Number, spacing and quality of children: A microeconomic viewpoint

A Razin - Research in population economics, 1980 - Jai Pr
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International effects of tax reforms

J Frenkel… - 1989 - nber.org
This paper highlights the significance of open-economy considerations in the analysis of tax
reforms. It focuses on domestic and international consequences of revenue-neutral
conversions between income and value-added tax systems. The principal conclusion of ...
Cited by 34 - Related articles - Library Search - All 12 versions

A strategic altruism model in which Ricardian equivalence does not hold

[PDF] from bu.edu
LJ Kotlikoff, A Razin… - 1991 - nber.org
This article demonstrates that Ricardian Equivalence does not necessarily hold in models
with altruistic transfers once one takes into account the strategic behavior of recipients as
well as donors. To influence the final allocation of consumption in altruistic settings, ...
Cited by 33 - Related articles - Library Search - All 20 versions

A model of intersectoral migration and growth

[PDF] from upf.edu
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A Mas-Colell… - Oxford Economic Papers, 1973 - JSTOR
Our main purpose in this paper is to show how some of the patterns of growth of a dual
economy studied by Fei and Ranis [4], Jorgenson [6, 7], and Dixit [2] can be explained by a
simple neoclassical growth model. Such patterns of growth include: a decreasing rate of ...
Cited by 34 - Related articles - All 12 versions

Optimum investment in human capital

Full text - MIT Libraries
A Razin - The Review of Economic Studies, 1972 - JSTOR
It is shown that for a simple form of a return-to-labour function the existence of non-Harrod-
neutral technical change, when it is the result of investment in human capital, is a source of
externality. A general result which relates the form of the return-to-labour function to the ...
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Factor mobility and income growth: two convergence hypotheses

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A Razin… - Review of Development Economics, 1997 - Wiley Online Library
While technologies and policy fundamentals are presumably different internationally,
inducing differences in growth rates, capital mobility can be a powerful force in equalizing
output growth rates across countries. The paper provides some indirect evidence in ...
Cited by 33 - Related articles - Library Search - BL Direct - All 13 versions

Population size: individual choice and social optima

[PDF] from oxfordjournals.org
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M Nerlove, A Razin… - The Quarterly Journal of …, 1985 - qje.oxfordjournals.org
Abstract Optimal population size when fertility is endogenous is considered in relation to two
social welfare criteria, a Benthamite and a Millian, and in relation to purely individualistic
maximization of utility in the current generation. We show that a tax-subsidy scheme ...
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G-7 fiscal restructuring in the 1990s: macroeconomic effects

L Bartolini, A Razin, S Symansky, M Burda… - Economic Policy, 1995 - JSTOR
During the 1990s many countries are undertaking major fiscal restructuring, cutting
expenditures and raising taxes. The objectives are varied, ranging from the need to stabilize
public debts to increasing efficiency by reducing distortions. This paper assesses the ...
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[BOOK] The role of information in driving FDI: theory and evidence

[PDF] from biu.ac.il
A Mody, A Razin, E Sadka… - 2002 - biu.ac.il
Abstract We develop a simple information-based model of FDI flows in which the abundance
of “intangible" capital in the source countries, which generates expertise in cream-skimming
investment projects in the host countries and enhances FDI flows. Corporate transparency ...
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The status of capital income taxation in the open economy

A Razin… - FinanzArchiv/Public Finance Analysis, 1995 - JSTOR
The paper addresses the issue of the low taxation of capital income for a small open
economy which is completely integrated into the world capital markets. First, the closed-
economy optimum tax proposition is extended to the open economy, by appealing to the ...
Cited by 33 - Related articles - Library Search - All 2 versions

Convergence in growth rates: the role of capital mobility and international taxation

A Razin… - 1994 - nber.org
We consider the role of capital mobility and international taxation. In explaining the observed
diversity in long-term growth rates. Our major finding is that, under capital mobility,
international differences in taxes will not matter for total growth differentials. Policy ...
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Welfare Migration: Is the Net Fiscal Burden a Good Measure of its Economics Impact on the Welfare of the Native-Born Population?

A Razin… - CESifo Working Paper Series, 2004 - ideas.repec.org
Migration of young workers (as distinct from retirees), even when driven in by the generosity
of the welfare state, slows down the trend of increasing dependency ratio. But, even though
low-skill migration improves the dependency ratio, it nevertheless burdens the welfare ...
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[BOOK] The decline of the welfare state: demography and globalization

[PDF] from tau.ac.il
A Razin, E Sadka… - 2005 - books.google.com
In The Decline of the Welfare State, Assaf Razin and Efraim Sadka use a political economy
framework to analyze the effects of aging populations, migration, and globalization on the
deteriorating system of financing welfare state benefits as we know them. Their timely ...
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Foreign Direct Investment vs. Foreiegn Portfolio Investment

I Goldstein… - 2005 - nber.org
The paper develops a model of foreign direct investments (FDI) and foreign portfolio
investments (FPI). FDI is characterized by hands-on management style which enables the
owner to obtain relatively refined information about the productivity of the firm. This ...
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Some welfare theoretic implications of endogenous fertility

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M Nerlove, A Razin… - International Economic Review, 1986 - JSTOR
In this essay we explore some of the implications of endogenous determination of fertility for
certain issues in population policy. By" endogenous fertility" we mean something rather
different from endogenous population size. We mean that parents determine the number ...
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Trade openness, investment instability and terms-of-trade volatility

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A Razin, E Sadka… - Journal of International Economics, 2003 - Elsevier
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 ...
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[CITATION] Real exchange rate and devaluation

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E Berglas… - Journal of International Economics, 1973 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
Real exchange rate and devaluation. Eitan Berglas and Assaf Razin (). Journal of
International Economics, 1973, vol. 3, issue 2, pages 179-191. ...
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The skill composition of immigrants and the generosity of the welfare state: free vs. policy-controlled migration

[PDF] from bcrp.gob.pe
A Cohen… - 2008 - nber.org
The paper analyzes the effect of the generosity of the welfare state on the skill composition
of immigrants. We develop a parsimonious model in which the effect of an increase in the
generosity (and taxes) of the welfare state on the skill composition of immigrants under ...
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Investment in human capital and economic growth

[PDF] from cornell.edu
A Razin - Metroeconomica, 1972 - Wiley Online Library
An explanation of economic growth is unsatsfactory so long as the rate of technological
advance is treated as exogenous to the system. Following Schultz [4] and Becker [I] we can
link technical change to investment in human capital. Economists have long since noticed ...
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[BOOK] Privatizing Social Security Under Balanced-Budget Constraints: A Political-Economy Approach

[PDF] from mecon.gov.ar
A Razin, E Sadka, CESifo… - 2003 - cdi.mecon.gov.ar
Abstract The aging of the population shakes the public finance of pay-as-you-go social
security systems. We develop a political-economy framework in which this demographic
change leads to the downsizing of the social security system, and, as a consequence, to ...
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Evaluation of currency regimes: the unique role of sudden stops

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A Razin… - Economic Policy, 2006 - Wiley Online Library
This paper tackles two established puzzles in international macroeconomics literature. The
first is the lack of systematic differences in the macroeconomic performance across
exchange rate regimes. The second is the absence of a clear empirical relationship ...
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[BOOK] International trade and trade policy

E Helpman… - 1991 - books.google.com
Centering on questions of the potential optimality of some trade protection, these original
contributions present research at the frontier of international trade and trade policy. They
expand and test the new trade theory that has developed during the last decade, ...
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Flattened Inflation-Output Tradeoff and Enhanced Anti-Inflation Policy: Outcome of Globalization?

[PDF] from bankisrael.gov.il
A Razin… - 2007 - nber.org
The paper provides a unified analysis of globalization effects on the Phillips curve and
monetary policy, in a New-Keynesian framework. The main proposition of the paper is
twofold. Labor, goods, and capital mobility flatten the tradeoff between inflation and activity ...
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Income convergence within an Economic Union: the role of factor mobility and coordination

Full text - MIT Libraries
A Razin… - Journal of Public Economics, 1997 - Elsevier
In the context of a human-capital-based growth model, we show the essential role of labor
mobility in equalizing income levels for countries that start off from different initial income
positions. Human capital externalities cum labor mobility are the driving forces behind the ...
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Determinants of external imbalances: The role of taxes, government spending, and productivity

L Leiderman… - Journal of the Japanese and International …, 1991 - Elsevier
Abstract This paper develops and estimates a dynamic optimizing model of the current
account. The model focuses on real factors that determine the evolution of saving and
investment and hence the external balance. Three types of shocks are at the center of the ...
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Fixed costs and FDI: The conflicting effects of productivity shocks

[PDF] from mecon.gov.ar
A Razin, Y Rubinstein… - 2004 - nber.org
The paper develops a model with lumpy setup costs of new investment, which govern the
flows of FDI. Foreign investment decisions are two-fold: whether to export FDI and, if so, how
much. The first decision is governed by total profitability considerations, whereas the ...
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[CITATION] Income distribution policies with endogenous fertility

Full text - MIT Libraries
M Nerlove, A Razin… - Journal of Public Economics, 1984 - ideas.repec.org
If you experience problems downloading a file, check if you have the proper application to
view it first. Information about this may be contained in the File-Format links below. In case of
further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
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The pattern of trade in a Ricardian model with country-specific uncertainty

Full text - MIT Libraries
GM Grossman… - International Economic Review, 1985 - JSTOR
The determination of the pattern of international trade under uncertainty has been the
subject of a number of recent investigations. Early writers on this topic studied situations in
which opportunities for the international sharing of risk are absent, and found that (i) trade ...
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Country risk and capital flow reversals

[PDF] from tau.ac.il
Full text - MIT Libraries
A Razin… - Economics Letters, 2001 - Elsevier
A financial crisis with a capital flow reversal occurs when a country shifts abruptly from a
'good'equilibrium with a low country-specific risk premium to a 'bad'equilibrium with a high
country-specific risk premium and no foreign credit.
Cited by 26 - Related articles - Library Search - BL Direct - All 13 versions

Economic growth and education: new evidence

Full text - MIT Libraries
A Razin - Economic Development and Cultural Change, 1977 - JSTOR
In several theoretical studies I analyzed a model of economic growth in which technical
progress was a result of investment in human capital. 2 This theory is based upon the
assumption that there exists a (stable) relationship between the rate of increase in the ...
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Transparency, Specialization and FDI

[PDF] from ifo.de
A Razin… - 2004 - papers.ssrn.com
Abstract: We develop a simple information-based model of FDI flows. On the one hand, the
relative abundance of" intangible" capital in specialized industries in the source countries,
which presumably generates expertise in screening investment projects in the host ...
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Optimal international taxation and growth rate convergence: tax competition vs. coordination

[PDF] from tau.ac.il
Full text - MIT Libraries
A Razin… - International Tax and Public Finance, 1999 - Springer
Abstract Optimal international taxation and its implications for convergence in long run
income growth rates are analyzed in the context of an endogenously growing world
economy with perfect capital mobility. Under tax competition (i) the residence principle will ...
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A bequest-constrained economy: welfare analysis

M Nerlove, A Razin… - 1989 - nber.org
Bequest constraints have played a major role in discussions of debt neutrality but their
welfare implications were not sufficiently dealt with in the literature. In this paper we focus on
the welfare implications of bequest constraints. We found that when institutional ...
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The political-economy positive role of the social security system in sustaining immigration (but not vice versa)

[PDF] from tuwien.ac.at
E Sand… - 2007 - nber.org
In the political-economy debate people express the idea that immigrants are good because
they can help pay for the old, thus help sustaining the social security system. In addition, the
median voter whose income derives from wages will wish to keep out the immigrants who ...
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Bequests and the size of population when population is endogenous

M Nerlove, A Razin… - The Journal of Political Economy, 1984 - JSTOR
The consequences of interfamily bequests and endogenous population size for optimal and
competitive population sizes and bequests are explored when individuals' utility is a function
of own consumption, the number of children, and the welfare of their children. When a ...
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[BOOK] Capital mobility: the impact on consumption, investment, and growth

L Leiderman… - 1994 - books.google.com
The industrialized world has recently witnessed a dramatic increase in the volume of
international capital movements, in the forms of borrowing and lending, bond transactions
and foreign direct investment. Many non-OECD countries have also embarked on ...
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Population size and the social welfare functions of Bentham and Mill

Full text - MIT Libraries
M Nerlove, A Razin… - Economics Letters, 1982 - Elsevier
Abstract The consequences of the social welfare function of Bentham and Mill (B–M) for
optimal population size are explored when individuals' utility is a function of own
consumption, the number of progeny, and the welfare of those children.
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Convergence in growth rates: a quantitative assessment of the role of capital mobility and international taxation

A Razin… - 1993 - nber.org
We provide an exploratory quantitative analysis of the role of capital mobility and
international taxation in explaining the observed cross-country diversity in the long-run rates
of growth of per capita and total incomes as well as the population growth rates. ...
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