This paper explores the two-way relationship between international migration and political regime change, emphasizing the potential for a feedback loop: political shifts influence migration patterns, and migration can, in turn, affect political developments. Using a Difference-in-Differences...

Why different national governments have different policies regarding globalization? This is an important research topic of government and economics. In the paper, I analyze how different income groups have different attitudes towards globalization; and how such attitudes shape government policy....

Life cycle and insurance-type considerations dominate redistribution policy. Wage and fiscal prospects of ageing dominate migration policy. The paper compares distinct policy regimes, directed at migration and redistribution issues. Migration quotas, provision of social benefits, labor income...

It has been well recognized that population ageing could generate structural changes centered around the dwindling labor force, on one hand, and the expanding dependency on the generosity of the welfare state, on the other hand. Ageing-related welfare state policy entails both fiscal issues and...

The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI-to-FPI price differential is negatively related to liquidity risk (the “Price Discount Hypothesis"). The idea is that market participants do not know whether the FDI investor...

In the presence of economies of scale in the investment technology, trade openness may have non-conventional effects on the level of investment, its cyclical behavior, and the volatility of the terms of trade. Trade openness may lead to boom-bust cycles of investment supported by self-fulfilling...

The aging of the population shakes the confidence in the economic viability of pay-as-you-go social security systems. We demonstrate how in a political-economy framework the shaken cofidence leads to the downsizing of the social security-system, and to the emergence of supplemental individual...