Affiliation:
1. Department of Economics, University of Minnesota, 1925 Fourth Street South, Minneapolis, MN 55455 (email: )
2. Department of Economics, University of Richmond, 28 Westhampton Way, Richmond, VA 23173 (email: )
Abstract
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. (JEL D25, F13, F15, F23, G31, O32)
Publisher
American Economic Association
Subject
General Economics, Econometrics and Finance
Cited by
22 articles.
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