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Research Affiliations
NBER
Research Associate; CEPR
Reseasrch Fellow;
CES-ifo
Research Fellow.
My Vitae
Curriculum Vitae (word, pdf)
, Bio (word,
pdf, hebrew) Citations
(google
scholar, SSCI
cited research), (SSRN
abstracts, downloads). Amazon Books (link),
MIT Press Books (link)
Books (link)
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#
Lea Nikel
Current
Research on
Migration and the Welfare State
Creditor Rights and Financial Crises (word, pdf, tex, vox)
Social Security and liberalized migration policy (tex, pdf)
FDI vs FPI (2008tex. 2009tex) (2008Tables, 2009Tables)
Immigration into the welfare state
(tex, pdf-jan09,
pdf-April09) (ppt slides) (pdf
slides)
Effects of Migration on Social Security: Demographic Balance and Political Balance (tex)
Great Depression vs. The Current Crisis (ppt july 2009, ppt)
Effect of migration on the Welfare
State (zip,tex, pdf,
cepr, NBER, presentation)
Migration and the Welfare State: Dynamic
Political-economy Theory (tex,
pdf)
Monograph on the welfare state and
international migration (zip, tex, pdf)
Immigration and Social Security
(Sept2008.tex, September2008.pdf,
tex, overview
presentation, pdf, oldtex, oldpdf,
slides2008, slides,
Figure 1, Figure 2)
Creditor Protection and Asset Price
Volatility (tex
, pdf)(HKIMR)
(2008presentation)
Ageing and Size of Redistributions:
Role of Fiscal Leakages (tex)
Lea Nikel
Markovian Political Economy Tax Model
(draft) (slide)
An Overlapping Generations Model of
A Welfare State (tex)
Stability-and-Growth Pact
and Privatization of Social Security: A Political-Economy
Model
(pdf
file)(tex file)(slide1,
slide2,tables)
Welfare Migration (word)
Privatizing Social Security (pdf)
(tex)
(link)
Privatizing Social Security (link)
Boon and Burden of Welfare
Migration (text)
Jankel Adler
Recently
Published Papers
Haim Kiewe
Liquidity Crises and the Composition
of Capital Exports (tex,
pdf, Slides:
pdf, tex))
Liquidity Crises, Transparency, and
the Composition of Equity Exports (pdf,
slides)
Tax and Productivity as Drivers of
FDI (link,
pdf)
Flattenning of the Phillips Curve
and Monetary Policy (presentation)(word,
pdf) (numerical
simulations)
Bilateral FDI Flows
and Productivity (tex)
(tables)(text pdf)
Corporate Taxes and FDI
(tex) (pdf)
(slide)(Europe)
(Tables) (tax
competition)
Globalization and Disinflation
(IsER
text) (presentation,
slide)
Fixed Costs and FDI (pdf)
(slide) (tex)
FDI/FPI Ratio and Liquidity (pdf,
tables,
tex)
(pdf) (Word)(slide)(presentation1)
(presentation2)
The Political Economy of Capital
Tax with Aging Population
(Tex
File), (PDF
file), (Slide)(welfare
state)
Competition between Tax
Authorities (pdf)
Which Countries Export FDI, and How Much: Rich-Rich
and Rich-Poor Flows
(pdf)
(tex)
(Tables&Figures: pdf,
exl) (Slide1)
(slide2) (slide3)
International tax competition
(pdf) (tex)
Volatility of Capital Flows: FDI vs.
FPI, text,
slides
Corporate Transparecy, Cream Skimming and FDI (tex)
(pdf) (table)
(Tex
File,
fig),
(PDF file),
(Transparency)
The Wage Gap and Labor Tax: A political Economy Model
(Tex
File), (PDF
file)
Aggregate Supply and Potential Output (JMCB)
(word)(slides)
The Size of the Welfare State: Lobbying,
and Majority-VotingChannels
(pdfnew)(pdfold)
(European Migration)(slides)
Interactions between Migration and
the Welfare State (cesifo
version)(pdf),
earlier version (tex)
(pdf)
The Aging of the Population and the Size of Welfare
State: (JPE)
(link)
(PDF
file) (Slide)
(IMF
file)
Tax Burden and International Migration: Political-Economy
Theory and Evidence (JpubE)
cover&tables,text,
figure
The "New Keynesian" Phillips Curve: Closed Economy vs.
Open Economy (PDF
file)(empirics)
(slide)
(extension)
A Brazilian Type Credit-Rating Crunch
Model (word, fig)
Terms of
Trade and Investment Instability
(pdf
file), Figures: 1,
2,3,
4,
(NBER wp)
Reversals of Capital Flow
(text)
Menashe Kadishman
Origins of Endogenous Growth
1. Human Capital Accumulation and Endogenous
Growth (Razin, Metroeconomica 1972)
2. Human Capital Accumulation and Technological
Change (Razin,link, Review of Economic
Studies 1973)
3. Intergenerational Model of Population
Growth (Razin and Ben-zion, American Economic Review
1975 (link)
4. Mystery of Growth
(Book review, 2006,
Helpman's Book Download (link))
Naftali Bezem
North-Holland
Published Articles
NBER Working Papers
(Write: Razin)
Meir Lazar
Overviews
The Credit Crunch 2007-2009 (ppt)
Israel's higher education (pdf)
Globalization and inflation (pdf)
The Great Depression vs. the 2007-9 Global Crisis
(ppt)
Growth Economics (book
Review)
Migration and the welfare state: Agenda for
Research(text, references
, abstract)
Wages in the Health Sector in Israel (pdf)
Israel Higher Education (IsER)
Monetary Policy and Potential Output
(word)
Fiscal Policy (cesifo)
Cuurent Account Sustainability (link)
Globalization and Disinflation (link)
Globalization and Society -"The 50th Anniversary
of the "Rivoon L'Calcala" (link)
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FDI contribution to capital flows and investment
in capacity (EASE13,HKIMR)
Demography Issues (pdf)
Oil Shock (word) Global
Disconnect--Physical and Informational Distance
(pdf)
Average vs Marginal Taxation
(pdf)
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Israel Economy
Pension Reform (doc)
Trends,Macrotables,
bop,capital
flows, gov
expenditures, budget
deficit
Defese Spending,
Israel and Globalization 2002, MOF
2003,
Introduction,
Fiscal Issues (pdf)
, Capital Inflows(English)
Israel Medical Doctors Wages (report,
appendix)
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International
Tax Equivalencies - Exposition
International
Trade and International Migration
Milton Friedman (hebrew)
Mount Tabor
Newspaper Articles
Treasury Secretary circa 2009 (Haaretz)
The Kibbutz Pension Crisis (calcalist)
Brain Drain (html)
A Tax on Returning
Israelies
Finance
Minister,more,
The
Spring 2003 Economic Program
An
Economic Road Map
The
longest recession
Privatizing a Kibbutz(word,
stockmarket,
article) (quasi-social
security)
Privatized Medical Service
BUDGET AND
PENSION REFORMS (Doc)
New Bank-of-Israel Law (doc)
Bank
of Israel and Accountants behind a "Nominal
Reform",link
New
Law About Consumer Creditworthiness Information, link
Globalization
and the Arab Sector
Emerging Palestinian economy? (word,
new book, WB
Report, a 2004 book)
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Leo Roth
1.
Economics of Globalization: Policy Perspectives From
Public Economics, (1999)
, Publisher's
Release
2. Ofair Razin Hall
In Tel
Aviv University,
3. Georgetown University
Lecture series
The
2003 Lecture, 1,
2, 3,
4, 5 page
12 The
2007 Award Ceremony
Ancient Chinese Artifact (Fabricated?)
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I. UNDERGRADUATE
OPEN-ECONOMY
MACROECONOMICS
syllabus,
International Indicators (bop,
ER, etc)
Introduction, Krugman-Obstfeld-ch12,
Krugman-Obstfeld-ch13
Balance-of-Payments Accounting (ppt)
1.Flexible
Exchange Rate: Exogenous Output, Krugman-Obstfeld-ch14
2.Flexible
Exchange Rate: Endogenous Output, Krugman-Obstfeld--ch15Krugman-Obstfeld
Ch 15Krugman-Obstfeld
Ch 15, krugmanobstfeldch16.pp,
3.Fixed
Exchange Rate,krugmanobstfeldch17.pp
, Impossible
Trinity
4.Flexible
vs Fixed Exchange Rate Systems, Krugman-Obstfeld-ch19
5.
International Debt Crisis:a,
b, c,
d
6.
Balance of Payments Dynamics
7. ppp and exchange rates in the short and the long run (pdf)
7. Why the Dollar Falls:
An Intertemporal Adjustment (word)
7. Optimum Currency Areas, Krugman-Obstfeld-ch20
8. Financial Crises, Krugman-Obstfeld-ch22
Homework1,
Homework2,
Homework 3,
9. The International
Monetary System
10. Optimum
Currency Areas
11. Developing
Countries: Crises and Reforms
12. The
Global Capital Markets , International
capital market (Krugman-Obstfeld
Ch 21 ) (The
US Deficit)
II. UNDERGRADUATE
INTERNATIONAL TRADE
syllabus,
Introduction-Krugman-Obstfeld-ch1
1.The
Ricardian Model with Two Goods,Krugman-Obstfeld-ch2
2.
The Ricardian Model with a Continuum of Goods:a,
b,
3.Specific Factors and Income Distribution, Krugman-obstfeld-ch3
3.Relative
Supply of Factors and Comparative Advantage,a,
b
, c,
Krugman-obstfeld-ch4
4.Economies
of Scale and International Trade,a,
b
, Krugman-obstfeld-ch6
5.International
Trade Policy, a,
b,
Krugman-Obstfeld-ch8
6. Optimum
tariff , Krugman-Obstfeld-ch9
,
Krugman-Obstfeld-ch10
Krugman-Obstfeld-ch11
7.
International Debt Crisis:a,
b, c,
Globalization (word)
Doha Trade Round
(Doha Trade Round) (Farm
Subsidies)
(Boeing vs Airbus,
Airbus
vs Boeing)
Homework1,Homework2,
Homework3,Homework4,Homework5
Homework
6
7. International
Factor Movements
8.Trade Policies: Developing
Countries
video
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Menashe
Kadishman
II. A
Graduate Course in International Trade
and Foreign Investment
Syllabus
i. International Trade
1. Introduction (ppt)
2. Intra-industry Heterogeneity with Fixed Costs of Exporting: The Melitz
Model
(2003) (notes)
3. Intra-industry Heterogeneity and Bertrand Competition: Bernard,
Eaton, Jensen, and Kortum (2003),
a. The Eaton-Kortum Model (notes1,
notes2)
b. Sources of Comparative Advantage (notes,
slides)
Trade (text),
c. The Alvarez-Lucas Calibration (notes)
4. Gene M. Grossman and Esteban Rossi-Hansberg Outsourcing Model (notes)
5. complementarity between trade in goods and trade in assets (ppt)
ii. Foreign Direct Investment
1. Liquidity Crunch and FDI (notes)
2. Heckman Econometrics in the Razin-Sadka FDI Book(text)
(notes)
3. Tax and Productivity as Drivers of FDI (notes,
powerpoint,
pdf)
4. Tax Competition and FDI (Notes,
slides)
This part is Based on the Razin - Sadka Book: Foreign Direct Investment:
Analysis of Aggregate Flows
(Princeton University Press, 2007)
5. Fire Sale FDI (slides)
iii. Dynamics of Capital Flows
1. Introduction
a. Complete vs. Incomplete Capital Markets (Helpman
and Razin Ch 3)
b. Dynamic model of Trade in Goods and Assets (Helpman
and Razin Ch 11)
2. New Models of Capital Flows
a. The Pavlova and Rigobon Model
(paper, slides)
b. Devereux and Southerland Model (notes,
slides)
c. The Tille and van Wincoop Model (paper,
slides)
d. The Caballero and Krishnamurty Micotrade Model: Flight for Quality
Model (notes, slides)
e. Trade and Financial Frictions (Antras
and Caballero)
III. The
1990s Graduate Course in International Trade
1.Gains
from Trade
2.Factor Proportions and the Structure
of Trade (ppt)
3.Complete
and Incomplete Capital Markets
4.Dynamics
of International Trade
5.Lobbying
and Tariffs
6.Trade
in Capital Goods
7.International
Migration
8.Balance
Sheets Effects and the Real Exchange Rate
9.Home-Bias
Portfolio and the Saving-Investment Correlations
10. The Eaton-Kortum Model (pdf)
(word), Sources of Comparative
Advantage (slides, text)
Trade (pdf)
11. The Alvarez-Lucas Calibration
(doc)
12. Pol
Antras Lecture Notes
13. Gene M. Grossman and
Esteban Rossi-Hansberg notes (outsourcing,
slides)
Naftali Bezem
Pincas Litvinovsky
Pictures
Stanford 2001 WebPage
Pincas Litvinovsky
My Family
Iddo Razin |
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Tel Aviv University
Department of Economics
Tel Aviv University
Tel Aviv 69978
ISRAEL
Office Telephone: 972-3-640-7303
Fax: 972-3-642-8074 or 972-3-640-9908 (O)
972-3-641-4475 (H)
e-mail: razin@post.tau.ac.il
Home Page: http://www.tau.ac.il/~razin
Amos Keinan
Arie Lubin
Recent
Books
Amos Keynan
1. Foreign Direct Investment:
Analysis of Aggregate Flows
(Princeton University Press, 2007)
(tex,
pdf), Figures and Tables (All
Chapters, Ch 10) (insert
to ch 2, new chapter,
new chapter in tex) Book Reviews (
book review1, book review2), Follow Ups (link,
pdf)
Book Reviews:
K.P. Kimbrough, Foreign Direct Investment: Analysis of
Aggregate Flows by Assaf Razin and Efraim Sadka. International Review
of Economics and Finance 2009.
http://www.arts.cornell.edu/econ/arazin/kimbroughFDIBOOKreview.pdf
Kathrin Russ, The New
Theory of Foreign Direct Investment (Review of Multinational Firms
and the Theory of International Trade by Jim Markusen and Foreign Direct
Investment: A Theory of Aggregate Flows by Assaf Razin and Efraim Sadka,
for the journal International Finance, 2009 text
Laura Alfaro, Review of Foreign Direct Investment: Analysis of Aggregate
Flows, Journal of Economic Literature, March 2009, text.
David Hendler
2.
Economic
Policy in the International Economy: Essays in Honor of Assaf Razin
Edited by Elhanan Helpman, Efraim
Sadka (Cambridge University Press, 2002)
Part I. Financial Issues in Open Economies: Theory: 1. Crises: the
next generation? Paul Krugman;(link)
2. Solutions to the ‘devaluation bias’: some preventive measures to
defend fixed exchange rates against self-fulfilling attacks Chi-Wa Yuen;
3. Growth enhancing effects of bailout guarantees Aaron Tornell; 4.
Risk and exchange rates Maurice Obstfeld and Kenneth S. Rogoff; Part
II. Financial Issues in Open Economies: Empirics: 5. Economic integration,
industrial specialization, and the asymmetry of macroeconomic fluctuations
Sebnem Kalemli-Ozcan, Bent E. Sorenson and Oved Yosha; 6. Uncovered
interest parity in crisis: the interest rate defense in the 1990s Robert
P. Flood and Andrew K. Rose; 7. When does capital account liberalization
help more than it hurts? Carlos Arteta, Barry Eichengreen and Charles
Wyplosz; 8. Sources of inflation in developing countries Prakash Loungani
and Phillip Swagel; Part III. Economic Growth: Theory and Empirics:
9. Growth effects and the cost of business cycles Gadi Barlevy; 10.
Explaining economic growth Yair Mundlak; Part IV. Public Economies:
11. Simulating fundamental tax reform in the United States David Altig,
Alan J. Auerbach, Laurence J. Kotlikoff, Kent A. Smetters and Jan Walliser;
12. The international macroeconomics of taxation and the case against
European tax harmonization Enrique G. Mendoza; 13. Home bias in portfolios
and taxation of asset income Roger H. Gordon and Vitor Gaspar; 14. Social
dumping in the transformation process; Part V. Political Economy: 15.
Do political institutions shape economic policy? Torsten Persson.
The Conference (IMF Survey, April 16,
2001, page 129)
3. The
Decline of The Welfare State: Demography and Globalization--
MIT Press 2004 (Topics)
Cover jacket
(pdf),
(charts1, charts2),
(tex) (New overview:pdf,
tex) (New references: pdf,
tex) (slide)
Ch 8 (pdf, tex)
(Hebrew Slide, English
Slide)
Book Download (link)
Book Reviews:
Ortega F ECONOMICS OF TRANSITION 14 (2): 413-415 2006
Kimbrough K JOURNAL OF ECONOMIC LITERATURE 44 (1): 184-186 MAR 2006
Beltrametti L JOURNAL OF ECONOMICS 87 (2): 195-197 MAR 2006
Hicks, Alex, Governance, An International Journal of Policy and Administration,
Vol 20, Issue 2, pp. 359-71, 2007
Nicole Wolfe, Journal of World System Research, Vol 12, Num 2 ( December
2006)
Catia Montanga Economica, Volume 74, Issue 296, Novemember 2007
4. Social
Security Reform : Financial and Political Issues in International Perspective
by Robin
Brooks (Editor), Assaf
Razin (Editor)
Cambridge University Press 2006
(introduction)
(Table of Contents)
Book Reviews:
SHAUN L. YOW, Journal of Pension Economics 6:01, 2007.
http://journals.cambridge.org/download.php?file=%2FPEF%2FPEF6_01%2FS1474747206282842a.pdf&code=262592bf0459172aff41ae708a1ef5e1
5. Labor,
Capital and Finance: International Flows
by
Assaf Razin and Efraim Sadka
Cambridge University Press 2002
Book download (link)
Book Reviews:
Wright MLJ JOURNAL OF ECONOMIC LITERATURE 42 (2): 524-525
JUN 2004 (text)
Lane P WORLD ECONOMY 25 (10): 1525-1525 NOV 2002 (Word
File)
Publisher's
release ,JEL, Amazon.com
Introduction
Preface
Table of Contents
Chapter 1,
(Figures:1,2)
Chapter 6
Chapter 7,
(Figures:,1,2)
text
Haim Kiewe
OTHER BOOKS
1. THE FULL TEXT OF THE 1978
OUT-OF-PRINT BOOK:
A Theory of International Trade Under Uncertainty
Academic Press 1978
by
Elhanan Helpman
and Assaf Razin
Chapter 1: Introduction (pdf)
Chapter 2: Elements of the Deterministic Theory of International
Trade (pdf)
Chapter 3: Elements of the Theory of Decision Making Under Uncertainty
(pdf)
Chapter 4: A Critical Survey of the Literature (pdf)
Chapter 5: A Stock Market Economy (pdf)
Chapter 6: A Diagrammatic Exposition of the Stock Market Equilibrium
and The Balance of Payments (pdf)
Chapter 7: The Basic Propositions of International Trade Revised
(pdf)
Chapter 8: Commercial Policy (pdf)
Chapter 9: Gains from Trade (pdf)
Chapter 10: Efficient Intervention in Financial Markets (pdf)
Chapter 11: The International Stock Market "Tree" Model
(pdf)
Appendices, References, and Index (pdf)
Book Reviews:
NEARY JP ECONOMICA 48 (189): 101-102 1981
POMERY J JOURNAL OF POLITICAL ECONOMY 88 (5): 1061-1064 1980
COES DV JOURNAL OF INTERNATIONAL ECONOMICS 10 (3): 445-448 1980
ANDERSON JE JOURNAL OF ECONOMIC LITERATURE 18 (1): 148-149 1980
HITIRIS T ECONOMIC JOURNAL 90 (357): 185-187 1980
Yosl Bergner
2. A Graduate International
Economics Textbook
Fiscal
Policies and Growth in the World Economy (MIT Press, 1996),
by Jacob Frenkel and Assaf Razin, with the cooperation of Chi-Wa
Yuen.
[First Edition, 1986; Second
Edition, 1993, Third Edition, 1996. Preface,
Contents,
The Mundell-Fleming Model:
Chapter
4, text
The Dynamics of the Current Account:
Chapter7,
text.
Growth in the Global Economy:
Chapter 12, Chapter
13, Chapter 14,
Chapter 15
Book download (link)
Book Reviews:
first edition (1987)
Anon JOURNAL OF MACROECONOMICS 19 (3): 630-630 SUM 1997
BRUCE N JOURNAL OF ECONOMIC LITERATURE 27 (4): 1704-1705 DEC 1989
MCCOY JPANNALS OF THE AMERICAN ACADEMY OF POLITICAL AND SOCIAL SCIENCE
504: 168-169 JUL 1989
LEHMENT H WELTWIRTSCHAFTLICHES ARCHIV-REVIEW OF WORLD ECONOMICS 125
(2): 416-417 1989
FLOYD JE JOURNAL OF INTERNATIONAL ECONOMICS 26 (3-4): 392-394 MAY 1989
Second Edition (1992):
WRENLEWIS S WORLD ECONOMY 17 (5): 782-782 SEP 1994
3.
Population Economics
(MIT Press), with Efraim Sadka
Book
download (link)
Book
Reviews:
Wildasin DE ECONOMIC DEVELOPMENT AND CULTURAL CHANGE
45 (4): 932-938 JUL 1997
Blanchet D JOURNAL OF ECONOMICS-ZEITSCHRIFT FUR NATIONALOKONOMIE 64
(2): 221-223 1996
Jackson WA ECONOMIC JOURNAL 106 (439): 1812-1813 NOV 1996
4.
International
Taxation in an Integrated World
(MIT Press), with Jacob Frenkel
and Efraim Sadka
text
Book
download (link)
5.
Current-Account Sustainability
by
Gian Maria Milesi-Ferretti and Assaf Razin
(Princeton Studies in International Finance, No 81) Paperback (November
1996)
Princeton University, International Finance; ISBN: 0881652539
Text
Earlier Literature: Understanding Interdependence: The Macroeconomics
of the Open Economy, ed.)PB Kenen (ed.) 1995 , my Paper on the intertemporal
approach to the current account)(book
dowload link)
Later Literature: a. Currency Crises
PR Krugman (ed.) 2000, Book download (link)
6.
The Economy of Modern Israel
(University of Chicago Press),
with Efraim Sadka
text
Yochana Simon
EDITED BOOKS
1. Taxation
in the Global Economy (National Bureau of Economic Research Project
Report)
by Joel Slemrod (Editor), Assaf Razin (Editor) ( Paperback -
February 1, 1992)
2. Capital
Mobility : The Impact on Consumption, Investment and Growth
by Leonardo Leiderman (Editor), Assaf Razin (Editor) ( Cambridge University
Press, 1994)
3. International
Trade and Trade Policy
by Elhanan Helpman (Editor), Assaf Razin (Editor) ( MIT Press,
1991)
Book download (link)
4. Social Security Reform, Edited
by Robin Brooks and Assaf Razin, CUP 2005
Preface,
Table of contents, Introduction,
authors
5.
International Finance and Financial Crises : Essays in Honor of Robert
P. Flood, Jr, Edited by Peter Isard, Assaf Razin, and Andy Rose
, Kluwer Academic Publishers (2000)
6.
Optimum Currency Areas: New Analytical and Policy Developments ,
Edited by Mario Blejer, Leonardo Leiderman and Assaf Razin, IMF,
1997;
A pre-Nobel Award Festschrift for Robert
Mundell's "optimum currency area" paper
Book download (link)
7. Taxation in the Global Economy
Joel Slemrod and Assaf Razin
University of Chicago Press 1990
Book Download (link)
My
MIT Press Books (link)
I. A
Graduate Course in International Macroeconomics: Integrating International Macroeconomics and Financial Crises
Syllabus (doc, pdf)
Course Outline
• The 2007-2009 Global Crisis: Historical Vi ew
The Great Depression vs. The Current Crisis ( ppt july 2009 )
(ii) Currency Crises and Financial Crises
First-Generation Currency Crises Fixed Exchange Rate With and Without Interest Parity,
Currency Crises Models with Endogenous central bank policies
Unique equilibrium ? Game Theory , Banking/Debt Crises ( ppt ), notes: 1 , 2 , 3 , 4 , 6 , 7 , 8
Balance-Sheet Crises Models
The balance-sheet effect in financial crisis,
balance shhet effect in a closed economy
Evaluation of Exchange Rate Regimes in the presence of Liquidity Crises ( Econ Policy, currency pegs 2007 ) ( pdf ) ( word ) Exchange-Rate Regimes ( pdf )
Informational Cascades and Rational Bubbles ( link , Housing Bubble )
Bank Runs and Capital Flows: Flight for Quality
( link , slides ) Bank Runs, Capital Flow Reversals, Credit-Rating Crunches ( Figure ) Slides ( pdf , tex , slides )
(iii) Textbook Neo-Classical Open-economy Macroeconomics
1. Inflation
Inflation and Money Growth, seigniorage,
2 Exchange Rate
Flexible Exchange Rate ,
(iv) The Mundell-Fleming Model
Slides: The Mundell-Fleming Model
(v) The New-Keynesian Macroeconomics
The Flexible Price Benchmark
Aggregate Supply Under Price Rigidity
Equilibrium under Flexible and Rigid Prices
Utility-based loss function (Preliminaries )
Utility-Based loss function: Globalization
Loglinearization
Krugman on liquidity trap
Liquidity trap
The Liquidity Trap and Expectations, more
Fiscal Policy under liquidity trap
Geneal Equilibrium and Interest Rule ( doc )
Naive vs Quadratic LQoptimazation ( doc )
Linear Quadratic Approximation ( pdf )
Homeworks: 1 , 2 , 3
globalization and inflation ( Slides, pdf , word )
Jordi Gali's notes( 1 , 2 , 3 , 4 , 5 , 6 , 7 )
(vi) The Dynamics of the current- and capital- account of the balance of payments
(a) Consumption-Smoothing current account balance Dynamics ( PPT )
(b) Dynamics of Savings in a small open economy ,
(c) Current Account Stochastic Dynamics,
(d) Portfolio View of Capital Flows ( slides )
(Vii) Home works
Basics: 1 , 2 , 3 ; New Keynesian Macro: Homeworks: 1 , 2 , 3 , 4 ( word ), 5 ( word ), 6 ( word ) , 7 ( word ); and More Home works.
The Pre 2007-2009 crisis course Neo-Classical Open-economy
Macroeconomics
1. Inflation
Inflation
and Money Growth, seigniorage,
2 Exchange Rate
Flexible Exchange
Rate,
3. Current Account Dynamics
(a) Consumption-Smoothing current
account balance Dynamics (PPT)
(b) Dynamics
of Savings in a small open economy,
(c) Current
Account Stochastic Dynamics,
(d) Portfolio
View
(e) Capital Flows (slides)
(ii) International Financial Crises
1. First-Generation Currency Crises Models
Fixed
Exchange Rate under Interest Parity, first-generation crisis
2. First-Generation Crises Models
Fixed
Exchange Rate Without Interest Parity,
3. Second-Generation Crises Models
Unique equilibrium? Game
Theory, Banking/Debt Crises (ppt),
notes: 1, 2,
3, 4, 6,
7, 8
4. Third-Generation Crises Models
The balance-sheet effect in
financial crisis,
balance
shhet effect in a closed economy
(book review)
Financial Fragility (doc)
5. Evaluation of Exchange
Rate Regimes (Econ
Policy, currency pegs 2007)(pdf)
(word) (Non
linearity table) (presentation
China) (Box 1: tex,
pdf) (Box 2: tex,
pdf) (Figure)
(Revised Tables and
Figures) (tex)(pdf)
(slide1) (slide2)
(Figures and Tables)
Exchange-Rate Regimes (pdf)
6. Informational Cascades and Rational
Bubbles (link,
Housing Bubble)
7. Bank Runs and Capital Flows
Caballero-Krishnamurty: Flight for Quality (link,
Burnside slides)
Bank
Runs, Capital
Flow Reversals, Credit-Rating
Crunches (Figure)
Slides (pdf,
tex) Allen and
Gale (slides)
7.
A Stylized Example of Time Inconsistency
Inflation
bias
(iii) The Traditional Model
1. Mundell-Fleming Macroeconomics:
The
Mundell-Fleming Model
(iv) New-Keynesian Macroeconomics
The Flexible Price Benchmark
Aggregate
Supply Under Price Rigidity
Equilibrium
under Flexible and Rigid Prices
Utility-based loss function
(Preliminaries)
Utility-Based
loss function: Globalization
Loglinearization
Krugman on liquidity trap
Liquidity trap
The Liquidity
Trap and Expectations, more
Fiscal Policy under liquidity trap
Geneal Equilibrium and Interest Rule (doc)
Naive vs Quadratic LQoptimazation (doc)
Linear Quadratic Approximation (pdf)
Homeworks: 1, 2, 3
globalization and inflation (Slides,
pdf, word)
Jordi Gali's notes(1, 2,
3, 4, 5,
6, 7 )
Rut Schloss
Miscellaneous issues
1.
Heckman Econometrics in FDI Book(pdf)
(Probit and GMM)
2. Open
Economy , Pass Through from Exchange Rates to Prices
(ppt)
3. Output-Inflation Tradeoffs in
the Open Economy:
Phillips
Curve
4. Bank Runs (pdf)
5. Devereux-Sutherland Capital flows model (slides)
6. Diagramatical Exposition (pdf)
Special Topics
1.
International Economics Puzzles--the Obstfeld and Rogoff Approach
(slide) (text)
2. Macroeconomic Moral Hazard (tex)
3..
Economic Growth in the Open Economy
4. Trade shares and international
portfolio shares (link)
Homeworks:
Tel Aviv 2005: 1,
2, 3,
4
4. Time-Varying Risk, Interest Rates, and Exchange Rates
in General Equilibrium (pdf)
Home works
Basics:
1, 2,
3; New
Keynesian Macro: Homeworks: 1,
2, 3, Homework
4 (word), Homework
5 (word), Homework
6 (word), Homework
7 (word). |
