Growth, expectations and tariffs
构建了一个国际贸易增长模型，研究预期如何影响创新和投资，发现对资本品征收关税的国家可在有限时间内获得增长和效用提升，但其他国家受损。
Abstract We present a growth model of international trade in which expectations about profitability and growth influence innovation and investment. Adaptive learning dynamics determine transition paths for countries with differing structural parameters. Countries limiting trade by tariffs on imports of capital goods can experience gains in growth and perceived utility for a finite time, whereas the rest of the world is adversely affected. Asymmetric gains persist longer when structural advantages of the country applying tariffs are larger. Substantial differences in levels of innovation, output and utility can appear within our asymmetric country setting.