investment in an international infrastructure capital, the stock of which accumulates over time. Depending on the trade costs and … consideration, the governments carry out a dynamic game of public investment. We show that the dynamic equilibrium of the policy … certain level, the infrastructure stock decreases (increases) over time, and the world economy will end up in autarky (two …

We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium … asset positions. We estimate this gravity equation using recently developed foreign investment data that have been restated … to account for offshore investment and financing vehicles. We show that a parsimonious implementation of the model with …