a r t i c l e i n f o Global slack hypothesis Inflation expectations Openness Small open economy DSGE model Korea This paper studies the implications of globalization for the dynamics of macroeconomic variables over the business cycle for a small open trade-dependent economy, such as South Korea. We study the impact of globalization through the lens of a structural model. Globalization is model...

the process of globalization is changing the world economically, politicaly, socially and culturally. globalization in the general sense is the greater integration of the national economies in the world and it is a much discussed phenomenon. greater integration has many effects on the structure of production in national economies, the roleof multinational corporation and foreign direct investme...

This paper estimates a structural New Keynesian model to test whether globalization has changed the behavior of U.S. macroeconomic variables. Several key coefficients in the model – such as the slopes of the Phillips and IS curves, the sensitivities of domestic inflation and output to “global” output, and so forth – are allowed in the estimation to depend on the extent of globalization (modeled...

Globalization is leading to increased economic interactions between the U.S. and almost every other country in the world. A growing percentage of the American economy is devoted to foreign trade, and many U.S. businesses are establishing offices, factories, and other economic ventures in other countries. Most economists claim that globalization is, on the whole, a beneficial phenomenon—and one ...

Liberalization of markets is the most important prerequisite for the process of Globalisation. In fact, liberalization has the capacity to increase countries wealth more than development aid. Once developing countries like SouthKorea, Taiwan, Singapore and Hong Kong for example became the so-called economically successful Asian “Tiger states” of the 1980s. In Europe, Ireland is a similar exampl...

by George Wright* T his contribution aims to assess the relationship between sport and globalization. Modern sport originated in the mid-nineteenth century in Great Britain and the United States. Professional sports were organized in mining and industrial towns and cities as businesses, while amateur spectator sports, particularly “American” football, were introduced on university campuses. As ...

This paper critically examines attempts to revitalize the comparative political economy model in contrast to analyses based on a globalization perspective. The organized market economy approach of Peter Hall is seen as a more inviting version of the CPE model. The political dilemmas facing national governments in an era of globalization are examined through a discussion of the economic policies...

Globalization is a worldwide phenomenon. The concept globalization is a very recent term only establishing its current meaning in the 1970s, which emerged from the intersection of four inter related sets of communities of practice, academics, journalists, publishers. This paper models the channels through which globalization affects financial sector development in Nigeria. To this end this stud...