Assaf Razin's Books

Population Economics

By: Assaf Razin,Efraim Sadka

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From Malthus to Becker, the economic approach to population growth and its interactions with the surrounding economic environment has undergone a major transformation. Population Economicselucidates the theory behind this shift and the consequences for economic policy. Razin and Sadka systematically examine the microeconomic implications of people's decisions about how many children to have and how to provide for them on population trends and social issues of population policy. The authors analyze how these decisions affect labor supply, consumption, savings and bequests, investments in human capital, and economic growth, along with related new issues such as migration and income redistribution across generations, in an integrated microeconomic framework. Population Economicsis a thoroughly modern treatment of population economics as a field in public economics. It integrates and extends Marc Nerlove's Household and Economy: Welfare Economics of Endogenous Fertility, as well as work written jointly with colleagues that has appeared in various journals and other publications.

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298

Publisher

MIT Press

Published Date

ISBN 10

0262181606

ISBN 13

9780262181600

International Taxation in an Integrated World

By: Jacob A. Frenkel,Assaf Razin,Efraim Sadka

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International Taxation in an Integrated World

By: Jacob A. Frenkel,Assaf Razin,Efraim Sadka

In this book the authors provide a new treatment of international taxation, one that focuses on the interactions between fiscal policies of sovereign nations and the magnitude and directions of international capital and goods flow in an integrated world economy.

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268

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MIT Press

Published Date

ISBN 10

0262061430

ISBN 13

9780262061438

Israel and the World Economy

The Power of Globalization

By: Assaf Razin

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Israel and the World Economy

The Power of Globalization

By: Assaf Razin

A rigorous analysis of the role played by globalization in key episodes in the development of the Israeli economy, from hyperinflation crisis to high-tech surge. Anti-globalization sentiments are rising, especially in Europe and the United States, with the increasingly integrated global economy blamed for domestic economic distress. In this book, Assaf Razin argues that Israel offers a counterexample to this view, showing decisively positive economic effects of globalized finance, trade, and immigration. He offers a rigorous analysis of the role played by globalization in key episodes in the remarkable development of the Israeli economy. His findings may hold lessons for productivity-challenged advanced economies as well as for other countries such as China currently making the transition to fully developed economies. Razin examines the wave of immigration after the collapse of the Soviet Union, as highly skilled Soviet Jews migrated to Israel and the effect on income inequality; the Great Moderation of inflation and employment in advanced economies, as Israel's inflation converged in parallel with low world inflation rates; Israel's robustness in the face of the deflation shocks of the 2008 financial crisis; and technology transmission through foreign direct investment, reinforcing Israel's high-tech sector surge. He also considers such ongoing challenges as high fertility and low labor market participation and the economic costs of the Israeli-Palestinian conflict.

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231

Publisher

MIT Press

Published Date

ISBN 10

0262553317

ISBN 13

9780262553315

Fiscal Policies and Growth in the World Economy

By: Jacob A. Frenkel,Assaf Razin

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Fiscal Policies and Growth in the World Economy

By: Jacob A. Frenkel,Assaf Razin

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 Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.

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668

Publisher

MIT Press

Published Date

ISBN 10

0262561042

ISBN 13

9780262561044

The Decline of the Welfare State

Demography and Globalization

By: Assaf Razin,Efraim Sadka

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The Decline of the Welfare State

Demography and Globalization

By: Assaf Razin,Efraim Sadka

An analysis of the welfare state from a political economy perspective that examines the effects of aging populations, migration, and globalization on industrialized economies. 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 analysis, supported by a unified theoretical framework and empirical findings, demonstrates how the combined forces of demographic change and globalization will make it impossible for the welfare state to maintain itself on its present scale. In much of the developed world, the proportion of the population aged 60 and over is expected to rise dramatically over the coming years—from 35 percent in 2000 to a projected 66 percent in 2050 in the European Union and from 27 percent to 47 percent in the United States—which may necessitate higher tax burdens and greater public debt to maintain national pension systems at current levels. Low-skill migration produces additional strains on welfare-state financing because such migrants typically receive benefits that exceed what they pay in taxes. Higher capital taxation, which could potentially be used to finance welfare benefits, is made unlikely by international tax competition brought about by globalization of the capital market. Applying a political economy model and drawing on empirical data from the EU and the United States, the authors draw an unconventional and provocative conclusion from these developments. They argue that the political pressure from both aging and migrant populations indirectly generates political processes that favor trimming rather than expanding the welfare state. The combined pressures of aging, migration, and globalization will shift the balance of political power and generate public support from the majority of the voting population for cutting back traditional welfare state benefits.

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152

Publisher

MIT Press

Published Date

ISBN 10

0262264366

ISBN 13

9780262264365

Understanding Global Crises

An Emerging Paradigm

By: Assaf Razin

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Understanding Global Crises

An Emerging Paradigm

By: Assaf Razin

A historical and theoretical investigation of the “common storylines” of recent financial crises.

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251

Publisher

MIT Press

Published Date

ISBN 10

026202859X

ISBN 13

9780262028592

Migration and the Welfare State

Political-Economy Policy Formation

By: Assaf Razin,Efraim Sadka,Benjarong Suwankiri

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Migration and the Welfare State

Political-Economy Policy Formation

By: Assaf Razin,Efraim Sadka,Benjarong Suwankiri

Nobel laureate economist Milton Friedman once noted that free immigration cannot coexist with a welfare state. A welfare state with open borders might turn into a haven for poor immigrants, which would place such a fiscal burden on the state that native-born voters would support less-generous benefits or restricted immigration, or both. And yet a welfare state with an aging population might welcome young skilled immigrants. The preferences of the native-born population toward migration depend on the skill and age composition of the immigrants, and migration policies in a political-economy framework may be tailored accordingly. This book examines how social benefits-immigrations political economy conflicts are resolved, with an empirical application to data from Europe and the developed countries, integrating elements from population, international, public, and political economics into a unified static and dynamic framework. Using a static analytical framework to examine intra-generational distribution, the authors first focus on the skill composition of migrants in both free and restricted immigration policy regimes, drawing on empirical research from EU-15 and non-EU-15 states. The authors then offer theoretical analyses of similar issues in dynamic overlapping generations settings, studying not only intragenerational but also intergenerational aspects, including old-young dependency ratios and skilled-unskilled conflicts. Finally, they examine overall gains from or costs of migration in both host and source countries and the race to the bottom argument of tax competition between states in the presence of free migration.

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181

Publisher

MIT Press

Published Date

ISBN 10

0262298376

ISBN 13

9780262298377

The Economy of Modern Israel

Malaise and Promise

By: Assaf Razin,Efraim Sadka

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The Economy of Modern Israel

Malaise and Promise

By: Assaf Razin,Efraim Sadka

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 Middle East. The authors present the first detailed economic analysis of the Palestinian uprising, showing how the unrest has led to a fall in Arab employment in Israel and serious economic loss to the occupied territories with some loss to Israel. They also examine how the uprising has affected Israel's financial standing internationally and the inflow of foreign aid. Razin and Sadka see promise for Israel's economy in the waves of immigration from the former Soviet Union, despite the current difficulties in absorbing the immigrants; in the coexistence of a flourishing and highly competitive private sector with a relatively large public sector, which is undergoing privatization; and in a tax structure that encourages long-term saving and business growth. By examining the interplay between the exchange rate, interest rates, and monetary and anti-inflation policies, the authors investigate the possibilities for renewed growth and conclude that the future of Israel's economy crucially depends on serious efforts to secure peace in the Middle East.

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276

Publisher

University of Chicago Press

Published Date

ISBN 10

0226705897

ISBN 13

9780226705897

Fiscal Policies and Growth in the World Economy

By: Jacob A. Frenkel,Assaf Razin

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Fiscal Policies and Growth in the World Economy

By: Jacob A. Frenkel,Assaf Razin

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668

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MIT Press

Published Date

ISBN 10

0262561042

ISBN 13

9780262561044

Israel and the World Economy

The Power of Globalization

By: Assaf Razin

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Israel and the World Economy

The Power of Globalization

By: Assaf Razin

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233

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MIT Press

Published Date

ISBN 10

0262344246

ISBN 13

9780262344241

Fiscal Balance During Inflation, Disinflation, and Immigration

Policy Lessons

By: Efraim Sadka,Assaf Razin

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Fiscal Balance During Inflation, Disinflation, and Immigration

Policy Lessons

By: Efraim Sadka,Assaf Razin

The paper provides an overview of the role of the fiscal imbalances and the ensuing public debt in explaining major episodes in Israel’s recent economic developments. The main conclusions from the Israeli budgetary developments may have more general validity: (a) deficits lead to inflation and stopping inflation requires elimination of deficits; (b) a major effect of inflation is a large shift of the tax burden from capital to labor; and (c) shocks to labor supply, such as massive labor inflow through immigration, can be absorbed without worsening government finances, when the labor and the housing markets are sufficiently flexible.

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International Monetary Fund

Published Date

ISBN 10

1451979312

ISBN 13

9781451979312

Foreign Direct Investment

Analysis of Aggregate Flows

By: Assaf Razin,Efraim Sadka

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Foreign Direct Investment

Analysis of Aggregate Flows

By: Assaf Razin,Efraim Sadka

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 a unique form of international capital flow between specific pairs of countries. By examining the determinants of the aggregate flows of FDI at the bilateral, source-host-country level, Assaf Razin and Efraim Sadka present the first systematic global analysis of the singular features of FDI flows. Drawing on a wealth of fresh data, they provide new theoretical models and empirical techniques that illuminate the vital country-pair characteristics that drive these flows. Uniquely, Foreign Direct Investment examines FDI between developed and developing countries, and not just between developed countries. Among many other insights, the book shows that tax competition vis-à-vis FDI need not lead to a "race to the bottom." Foreign Direct Investment is an essential resource for graduate students, academics, and policy professionals.

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159

Publisher

Princeton University Press

Published Date

ISBN 10

1400829240

ISBN 13

9781400829248

Sharp Reductions in Current Account Deficits

An Empirical Analysis

By: Mr.Gian Milesi-Ferretti,Assaf Razin

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Sharp Reductions in Current Account Deficits

An Empirical Analysis

By: Mr.Gian Milesi-Ferretti,Assaf Razin

The paper studies determinants and consequences of sharp reductions in current account imbalances (reversals) in low- and middle-income countries. It poses two questions: what triggers reversals, and what factors explain how costly reversals are? It finds that both domestic variables, such as the current account balance, openness to trade, and the level of reserves, and external variables, such as terms of trade shocks, U.S. real interest rates, and growth in industrial countries, seem to play important roles in explaining reversals in current account imbalances. It also finds some evidence that countries with a less appreciated real exchange rate, higher investment, and more openness before the reversal tend to grow faster after a reversal occurs.

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International Monetary Fund

Published Date

ISBN 10

1451858221

ISBN 13

9781451858228

Population Policy and Individual Choice

A Theoretical Investigation

By: Marc Nerlove,Assaf Razin,Efraim Sadka

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Population Policy and Individual Choice

A Theoretical Investigation

By: Marc Nerlove,Assaf Razin,Efraim Sadka

Review of welfare economics; Externalities and public goods; Endogenous fertility and potential market failure: false issues; Endogenous fertility and potential market failure: real issues; Children as a capital good; Socially optimal population size: beyond the pareto principle; Directions for further research.

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Intl Food Policy Res Inst

Published Date

ISBN 10

089629062X

ISBN 13

9780896290624

Labor, Capital, and Finance

International Flows

By: Assaf Razin,Efraim Sadka

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Labor, Capital, and Finance

International Flows

By: Assaf Razin,Efraim Sadka

This treatment offers a model of globalization by examining international labor, finance, and capital flows.

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Page Count

198

Publisher

Cambridge University Press

Published Date

ISBN 10

052178557X

ISBN 13

9780521785570

Migration and the Welfare State

Political-Economy Policy Formation

By: Assaf Razin,Efraim Sadka,Benjarong Suwankiri

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Migration and the Welfare State

Political-Economy Policy Formation

By: Assaf Razin,Efraim Sadka,Benjarong Suwankiri

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181

Publisher

MIT Press

Published Date

ISBN 10

0262298376

ISBN 13

9780262298377

The Anatomy of Human Rights in Israel

Constitutional Rhetoric and State Practice

By: Assaf Meydani

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The Anatomy of Human Rights in Israel

Constitutional Rhetoric and State Practice

By: Assaf Meydani

This book examines the issue of human rights in the Israeli domestic arena by analyzing the politics and strategies of defending human rights. It explains the processes through which Israel is struggling to promote human rights within a specific institutional environment, thus determining the future of Israeli democracy and its attitude toward human rights.

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313

Publisher

Cambridge University Press

Published Date

ISBN 10

1107054575

ISBN 13

9781107054578

Globalization, Migration, and Welfare State

Understanding the Macroeconomic Trifecta

By: Assaf Razin

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Globalization, Migration, and Welfare State

Understanding the Macroeconomic Trifecta

By: Assaf Razin

This book is about three key dimensions in economics—globalization, migration and the welfare state—that are of enduring interest. These issues are particularly important to consider at the present moment given the strains posed by the pandemic: there is at least a temporary setback to trade-globalization and migration, and the cost of fighting the pandemic will strain the ability of governments to provide welfare state services in a style and scope to which many of their citizens have become accustomed. The book explains the changing function of the welfare state in the presence of intensified globalization, or de-globalization, forces. The welfare state’s policy-maker attitudes toward openness and migration depend on open-economy fundamentals, and the income class it represents. The author demonstrates the interactions between migration, globalization and macroeconomic policy in practice, using real-world unique episodes, with Israel deemed as well-functioning trifecta, and the US and Europe as imperfectly functioning trifecta.

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213

Publisher

Springer Nature

Published Date

ISBN 10

3030643921

ISBN 13

9783030643928

The Israeli Supreme Court and the Human Rights Revolution

Courts as Agenda Setters

By: Assaf Meydani

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The Israeli Supreme Court and the Human Rights Revolution

Courts as Agenda Setters

By: Assaf Meydani

This book explains the reciprocal relations between the Supreme Court and the Israeli political system. It is based on a unique approach that contends that the non-governability of the political system and an alternative political culture are two key formal and informal variables affecting the behavior of several political players within the Israeli arena. The analysis illustrates the usefulness of such a model for analyzing long-term socio-political processes and explaining the actions of the players. Until this model changes significantly, the decisions of the High Court of Justice express the values of the state and enable Israel to remain a nation that upholds human rights. The Court's decisions determine the normative educational direction and reflect Israel's democratic character with regard to the values of human rights.

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