Growth in the Shadow of Expropriation

In this paper, we propose a tractable variant of the open economy neoclassical growth model that emphasizes political economy and contracting frictions. The political economy frictions involve disagreement and political turnover, while the contracting friction is a lack of commitment regarding

本文提出了一类聚焦政治经济学与合约摩擦的开放经济新古典增长模型的易处理变体。其中，政治经济学摩擦体现为意见分歧与政治更迭，而合约摩擦则体现为承诺能力的缺失。