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), (SSRN
abstracts, downloads). Amazon Books (link),
MIT Press Books (link)
Books (link)
|
| | |
 #
Lea Nikel
Papers and Surveys
Taxes and Migration (docx,
pdf)
The Euro
Crisis (word-iser) (pdf)
(word,
print, contemporay econ)(Burnhermeier) (link)(CE-version)
Review of Theories of Financial Crises (pdf) (word)(early draft)
(slides)
Stock Prices and Crises (pdf)
Composition of Capital Flows: Review (pdf)
(print) Migration
Policy Dynamics (tex , pdf)
History of Crises (doc,
pdf)
Composition of Migration and the Welfare State (pdf,
tex, tables, slides,
overview) Collateral poor countries and FDI (doc)
Tax Competion under Fiscal Externality(slides)
(pdf)(zip)
Euro Crisis-political economy origins (word
, pdf) (hebrew
slides)(ppt)(docx)
Financial Crises 1990-2010
(pdf) Information-efficiency
tradeoff: A Test (pdf) (tex)
Composition of capital flows (presentation)
pdf2011 (tex)(pdf)
Tax Competition vs. Tax Coordination (presentation)
(tex) (pdf)
Exchange Rate Regimes (pdf)
(tex) Welfare State
and Skill Mix of Migration: Dynamic Policy Formation (ppt)
(tex, pdf)
nber wp The Great Depression vs. The
Current Crisis ( ppt
) Creditor Rights and
Financial Crises (word, pdf,
tex, vox)
FDI vs FPI (2008tex.
2009tex) (2008Tables,
2009Tables) Great
Depression vs. The Current Crisis (ppt
july 2009, ppt)
Creditor Protection and Asset Price Volatility (tex
, pdf)(HKIMR)
(2008presentation)
Eurozone crisis (pptx)
Current
Research on Migration and the
Welfare State Dynamic Model of Migration
and the Welfare State (zip) (tex)
Fiscal and migration competition (zip)(pdf)
MIT Press Monograph (pdf)
(zip August 2010)(zip
july 2010 ) Social Security and liberalized migration
policy (tex, pdf)
Immigration into the welfare state presentation
(zip) (data
1, data
2, data
3)(tex, pdf-jan09,
pdf-April09) (ppt
slides) (pdf slides) Effects
of Migration on Social Security: Demographic Balance and Political Balance (tex)
Effect of migration on the Welfare State
(zip,tex,
pdf, cepr, NBER, presentation)
Migration and the Welfare State: Dynamic Political-economy
Theory (tex, pdf)
Immigration and Social Security (Sept2008.tex,
September2008.pdf, tex,
overview presentation, pdf, oldtex, oldpdf,
slides2008, slides, Figure 1, Figure 2)
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 
Haim Kiewe
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,
about the author)) 
Naftali Bezem
North-Holland
Published Articles
NBER Working
Papers (Write: Razin)
Meir Lazar
Overviews
Financial crisis: lessons (ppt, hebrew
doc,
hebrew pdf) Eurozone crisis (ppt)
Macroeconomic thinking after the crisis (hebrew)
EBA Lecture on the Financial Crisis (ppt)
The Credit Crunch 2007-2009 (credit
crunch 2007-2009) Israel's higher education (pdf)
Globalization and inflation (pdf)
Economic Growth (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)
|
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) |
| Israel Medical Doctors Wages (report,
appendix)
 Pincas
Litvinovsky | International
Tax Equivalencies - Exposition International
Trade and International Migration Milton Friedman (hebrew)
An Old Tree
in Mount Tabor Rivoon L'Calcala--historical
view (link1,
link 2) Welfare
state economics (hebrew slide 1,
hebrew slide 2) Newspaper
Articles
Politization of Education (link)
Tax Policy Turnaround
(docx) Defense
Budget (link)
Israeli awakening (docx,
pdf) (link)(1,
2, 3) (1990)
Selection from The Marker (link)
Two Macroeconomics Camps (Calcalist,
2010) Treasury Secretary circa 2009 (Haaretz)
The Kibbutz Pension Crisis (calcalist)
(video)
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) Newspaper
clips (link)
|
Leo
Roth Ofer Razin, My Late Son About
Ofer Bio (hebrew)
Ph.D dissertation a
special chapter in 2. Ofer 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?)
Simple Economic Concepts: Videos |
Neoclassical
approach (pdf)
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
Krugman on EMU (text, slides) 8.
International Capital Markets (Krugman-Obstfeld ch
21, Appendix) 9.
Financial Crises, Krugman-Obstfeld-ch22
Homework1, Homework2,
Homework 3,
10. The International Monetary System
11. Optimum Currency Areas 12.
Developing Countries: Crises and Reforms
13. The Global Capital Markets
, International capital market (Krugman-Obstfeld
Ch 21 ) (The US Deficit)
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 | | |
| | |
|
| |
|
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
Pictures
Stanford
2001 WebPage
Pincas
Litvinovsky My family
website 
Iddo
Razin | | | |
Cornell University Department
of Economics Ithaca, New York, 14853, USA ar256@cornell.edu http://www.arts.cornell.edu/econ/arazin/ and
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
Books BIOGRAPHYinCOMICS---
Assaf Vol I: The first 70 years (link)
The stroy is one of extremes. It follows Assaf rom the Kibutz to the city,
from Israel to different parts of the world, from his childhood in the nursery
bed of socialism to the Economics department in Chicago university, the cradle
of capitilism. Our hero persues a stelar carreer and personal acheivements while
withstanding dramatic personal events. E-books by Assaf Razin (link)
Migration
and the Welfare State
Political-Economy Policy Formation
Assaf Razin Efraim
Sadka and Benjarung Suwankiri
Cloth / October 2011, MIT Press
A
unified formal framework for studying how social benefits-immigration conflicts
are resolved in a range of policy regimes. Topics include: an empirical assesment
of free vs. policy-controlled migration and the generosity of the welfare state,
tax competition and competition over the skill mix of immigrants, dynamics of
political economy policy formation, and survey of literature.
 Book review:
Sharun W Mukand, Journal of Economic Literature 2012, 50(3), 791-794 (pdf).
2. Foreign
Direct Investment: Analysis of Aggregate Flows (Princeton
University Press, 2007) 
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. SebnemKalemli-Ozcan,
Book Review, Israel Economic Review,Vol 9, No 2 (2012), 1-3 (text)
David
Hendler 3. 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
book Conference (IMF Survey, April 16, 2001, page
129)
4. The
Decline of The Welfare State: Demography and Globalization--
MIT Press 2004 
(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
5.
Labor, Capital and Finance: International
Flows
by
Assaf Razin and Efraim
Sadka Cambridge University Press 2002 
Book download (pdf)
(text)
(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
6.
A Theory of International Trade Under Uncertainty
Academic Press, Harcourt
Brace Jovanovitch, 1978 by Elhanan
Helpman and Assaf Razin (FullText) 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 7.
Fiscal Policies and the World Economy: Intertemporal Approach
(MIT Press 1987 (
pdf) (First
Edition, 1987; Second Edition, 1993.)
Fiscal
Policies and Growth in the World Economy (MIT Press, 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
8. Population Economics
Population Economics
(MIT Press, 1995), 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
9. International
Taxation in an Integrated World
(MIT Press, 1992), with Jacob Frenkel and
Efraim Sadka
text,
(pdf)
Book
download (link)
10. 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
see also Currency Crises
PR Krugman (ed.) 2000, Book download
(link)
11.
The Economy of Modern Israel
(University
of Chicago Press, 1993), with Efraim Sadka
text
Yohanan Simon
EDITED BOOKS Social
Security Reform : Financial and Political Issues in International Perspective
by Robin
Brooks (Editor), Assaf
Razin (Editor)
Cambridge University Press 2006 
Preface,
Table of contents, Introduction,
authors (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
Taxation
in the Global Economy (National Bureau of Economic Research Project Report)
by Joel Slemrod (Editor), Assaf Razin (Editor) ( Paperback -
February 1, 1992) Book Download (link)
Capital
Mobility : The Impact on Consumption, Investment and Growth
by Leonardo Leiderman (Editor), Assaf Razin (Editor) ( Cambridge University Press,
1994) International
Trade and Trade Policy
by Elhanan Helpman (Editor), Assaf Razin
(Editor) ( MIT Press, 1991) Book download (link)
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)
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)
Capital
Mobility: The Impact on Consumption, Investment and Growth by Leonardo Leiderman
and Assaf Razin ( Paperback) The
Economics of Globalization: Policy Perspectives from Public Economics by Assaf
Razin and Efraim Sadka ( Paperback) - Development
in an Inflationary World by M. June Flanders/ Assaf Razin ( Paperback - 1981)
I. A
Graduate Course in International Macroeconomics: Integrating International
Macroeconomics and Financial Crises
0. Introduction
The 2008
financial crisis (pdf)
Two
Camps in Macroeconomics (ppt) Euro
Crisis (ppt)
Syllabus (doc,
pdf)
I. International
Financial Crises Review of Theories
of Financial Crises (draft) (slides)
Leverage
Bubbles(pdf) The Great Depression vs. The Current
Crisis ( ppt
) Currency and Financial
Crises of the 1990s and 2000s docx
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) (ii)
More on 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
) II. Textbook
Neo-Classical Open-economy Macroeconomics 1.
Inflation Inflation
and Money Growth, seigniorage,
2 Exchange Rate Flexible
Exchange Rate , III. The Mundell-Fleming
Model Slides: The
Mundell-Fleming Model IV. 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 Liquidity trap and delevaraging
(link)
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
) 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 OLD (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)
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 ) 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)
2.7. VAR analysis of currency regimes (pptx)
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). 
Ruth Schloss
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