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DEglobalizaion and Social Safety Nets in Post-Covid-19 Era: Textbook Macroeconomic Analysis / Assaf Razin, Efraim Sadka, Alexander Horst Schwemmer.
- Format:
- Book
- Author/Creator:
- Razin, Assaf.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27239.
- NBER working paper series no. w27239
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- Globalization is expected to be reversed, at least partially, in the post pandemic era. The Great Financial Recession of 2008-10 marked a historic turning point in the direction of weakening the degree of global economic integration. Now, in the post-pandemic era, policymakers appear poised to take deliberate steps to reinforce the movement toward de-globalization. At the same time, safety nets are expected to be strengthened. In this paper, we develop a model, with which we analyze central macroeconomic interactions between globalization and safety nets. We put together stylized elements of trade globalization, financial globalization, international tax competition, immigration, and welfare state, all in a two-skill, two-period stylized model, where policy (taxes and social benefits) is determined through majority voting.
- Notes:
- Print version record
- May 2020.
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