A THEORY OF ECONOMIC DISINTEGRATION
研究单边经济解体（如英国脱欧）对国家及国际政策的影响，引入企业流动性和商业税收政策到一般均衡贸易模型中，分析解体对不对称国家税收政策的影响。
Abstract We study the impact of unilateral economic disintegration, such as Brexit, on national and international policies. We introduce firm mobility and business‐tax policies into a general‐equilibrium trade model and analyze the effects of disintegration on tax policies of asymmetric countries. Although the disintegrating country taxes less, business taxes converge in the remaining economic area. We highlight important differences with existing two‐country models. Moreover, we predict a realignment of trade policies with a deeper integration inside the union and lower tariffs worldwide. The leaving country's endogenous integration response with other countries may fully compensate for the disintegration‐induced welfare losses.