The Impact of Brexit on Foreign Investment and Production
利用多国新古典增长模型模拟英国脱欧后的几种情景，分析英国单方面限制欧盟投资与贸易、欧盟报复以及英国转向其他国家的不同政策效果，关键取决于跨国公司在技术资本上的投资反应。
Using simulations from a multi-country neoclassical growth model, we analyze several post-Brexit scenarios. First, the United Kingdom unilaterally imposes tighter restrictions on FDI and trade from other EU nations. Second, the European Uunion retaliates and imposes the same restrictions on the United Kingdom. Finally, the United Kingdom reduces restrictions on other nations during the post-Brexit transition. Model predictions depend crucially on the policy response of multinationals’ investment in technology capital, accumulated know-how from investments in R&D, brands, and organizations used simultaneously in their domestic and foreign operations.