Economic growth and business fluctuation under free asset trade

提出了一种资产自由交易的动态优化模型。人们发现，在充分就业的情况下，长期生产模式以及储蓄税和投资税的影响与无资产贸易的情况有很大不同。随着经济持续停滞，生产力的提高和进口限制通过汇率调整“减少”了国内就业

A dynamic optimization model with free asset trade is proposed. With full employment long-run production patterns and the effects of saving and investment taxes are found to be quite different from those under no asset trade. With persistent stagnation it is shown that productivity improvement and import restrictions 'reduce' home employment through exchange-rate adjustment