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Research Affiliations
NBER
Research Associate; CEPR
Reseasrch Fellow;
CES-ifo
Research Fellow.
My Vitae
Curriculum Vitae (word)
, 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
Liquidity Crises and the Composition
of Capital Exports (tex,
pdf, Slides:
pdf, tex))
TAx and Productivity as Drivers of
FDI (pdf)
Flattenning of the Phillips Curve
and Monetary Policy (presentation)(word,
pdf) (numerical
simulations)
Liquidity Crises, Transparency, and
the Composition of Equity Exports (pdf,
slides)
Immigration and Social Security
(tex, pdf, oldtex,
oldpdf,
slides2008, slides,
Figure 1, Figure 2)
Institutional Weakness and Macroeconomic
Performance: Creditor Protection and Asset Price Volatility
(april2008pdf)(april2008tex)
(presentation,
slides, OIS)(cepr,
pdf) (tex)(Creditor
protection and volatility) (Tables)
(exclusion restriction)
Ageing and Size of Redistributions:
Role of Fiscal Leakages (tex)
Bilateral FDI Flows
and Productivity (tex)
(tables)(text pdf)
Corporate Taxes and FDI
(tex) (pdf)
(slide)(Europe)
(Tables) (tax
competition)
Markovian Political Economy Tax Model
(draft) (slide)
Globalization and Disinflation
(text)
(presentation,
slide)
Fixed Costs and FDI (pdf)
(slide) (tex)
An Overlapping Generations
Model of A Welfare State (tex)
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
Privatizing Social Security (link)
Jankel Adler
Recently
Published Papers
Haim Kiewe
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)
Welfare Migration (word)
Privatizing Social Security (pdf)
(tex)
(link)
Stability-and-Growth Pact and Privatization of Social
Security: A Political-Economy Model
(pdf
file)(tex file)(slide1,
slide2,tables)
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)
Boon and Burden of Welfare Migration
(text)
Yochanan Simon
Origins of Endogenous Growth:
Papers
From The Early 1970s
1. Human Capital Accumulation and Endogenous
Growth (Metroeconomica)
2. Human Capital Accumulation and Technological
Change (Review of Economic
Studies)
North-Holland
Published Articles
NBER Working Papers
(Write: Razin)
Meir Lazar
Overviews
Growth Economics (book
Review)
Migration and the welfare state: Agenda for Research(text,
references , abstract)
Wages in the Health Sector in Israel (pdf)
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
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
Fabricated Ancient Chinese Artifact?
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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
4.Flexible
vs Fixed Exchange Rate Systems, Krugman-Obstfeld-ch19
5.
International Debt Crisis:a,
b, c,
6.
Balance of Payments Dynamics
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)
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)
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)
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)
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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)
efax: 001(603) 388-4806. e-mail: razin@post.tau.ac.il
Home Page: http://www.tau.ac.il/~razin
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)
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; 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 (Topic)
Cover jacket
(pdf),
(charts1, charts2),
(tex) (New overview:pdf,
tex) (New references: pdf,
tex) (slide)
Ch 8 (pdf, tex)
(Hebrew Slide, English
Slide)
4. Social
Security Reform : Financial and Political Issues in International Perspective
by Robin
Brooks (Editor), Assaf
Razin (Editor)
Cambridge University Press
(introduction)
(Table of Contents)
5. Labor,
Capital and Finance: International Flows
by
Assaf Razin and Efraim Sadka
(Cambridge University Press)
Review by Philip Lane (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)
Reuven Rubin
OTHER BOOKS
1. THE FULL TEXT OF THE 1978
OUT-OF-PRINT BOOK:
A Theory of International Trade Under Uncertainty
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)
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
3.
Population Economics
(MIT Press), with Efraim Sadka
4.
International
Taxation in an Integrated World
(MIT Press), with Jacob Frenkel
and Efraim Sadka
5.
Current Account Sustainability (Princeton Studies in International
Finance), with Gian Maria Milesi-Ferretti
6.
The Economy of Modern Israel
(University of Chicago Press),
with Efraim Sadka
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)
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
My
MIT Press Books (link)
I. A
Graduate Course in International Macroeconomics
Syllabus (doc)
(i) 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,
(book review)
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)
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
Geneal Equilibrium and Interest Rule (doc)
Naive vs Quadratic LQoptimazation (doc)
Linear Quadratic Approximation (pdf)
Homeworks: 1, 2, 3
globalization and inflation (Slides,
pdf)
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)
(v) 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)
(VI) Homework
Basics:
1, 2,
3; New
Keynesian Macro: Homeworks: 1,
2, 3, Homework
4 (word), Homework
5 (word), Homework
6 (word), Homework
7 (word).
Naftali Bezem
Pincas Litvinovsky
Pictures
Stanford
2001 WebPage
Pincas Litvinovsky
My Family
Iddo Razin
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