International Fiscal Policy Coordination and Economic Growth
用一个两国内生增长模型分析政策协调的效果，发现政府选择公共投入总是有效，但独立决策时税率可能过高或过低，导致增长率可能低于或高于协调情形。
This paper examines the effects of policy coordination in a two-country model of endogenous growth. Governments choose taxes to provide public inputs and public consumption goods. Tax rates affect the rewards to investment and rates of economic growth. Two regimes are examined: one with independent policy-making, and one with policy coordination. Whatever the regime, the choice of public inputs is always efficient. Without coordination, however, governments choose inefficient tax rates. But taxes may be either higher or lower than under policy coordination. As a consequence, growth rates may be lower or higher than those under policy coordination. Copyright 1992 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.