Capital Accumulation and Foreign Investment Taxation
构建了一个开放经济中资本积累的动态一般均衡模型，比较了有无资本流动的均衡，发现两者均非帕累托最优，且资本自由流动并不必然优于自给自足，并讨论了对外国投资收益征税的影响。
This paper presents a dynamic, choice-theoretic general equilibrium model of capital accumulation in an open economy. Equilibria with and without capital mobility are described and compared. It is shown that neither is necessarily Pareto optimal and that an equilibrium with free trade in capital does not Pareto-dominate an equilibrium with autarky. The effects of restricting capital flows by taxing foreign investment earnings are discussed. It is seen that there will be no agreement within a country as to what constitutes an optimal tax.