Foreign-Owned Land

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Foreign-Owned Land

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Eaton, Jonathan

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Jonathan Eaton

Abstract

While foreign investment augments the capital stock, it also affects land prices. If it causes land values to rise, then the resulting capital gain benefits current landowners, but the perma nent effect can be to reduce welfare. Other things equal, more-crowde d countries have higher land prices and lower steady-state welfare, b ut their net foreign indebtedness depends on technology, savings beha vior, and the interest rate. Even when it does not affect the domesti c capital stock, a land tax raises steady-state welfare. Copyright 1988 by American Economic Association.

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Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 78 (1988)
Issue (Month): 1 (March)
Pages: 76-88
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Handle: RePEc:aea:aecrev:v:78:y:1988:i:1:p:76-88

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Paper
- Jonathan Eaton, 1988. "Foreign-Owned Land," NBER Working Papers 1512, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Dutton, John, 1982. "The Optimal Taxation of International Investment Income: A Comment," The Quarterly Journal of Economics, MIT Press, vol. 97(2), pages 373-80, May. [Downloadable!] (restricted)
Calvo, Guillermo A & Kotlikoff, Laurence J & Rodriguez, Carlos Alfredo, 1979. "The Incidence of a Tax on Pure Rent: A New (?) Reason for an Old Answer," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 869-74, August. [Downloadable!] (restricted)
Other versions:
- Guillermo A. Galvo & Laurence J. Kotlikoff & Carlos Alfredo Rodriguez, 1978. "The Incidence of a Tax on Pure Rent: A New Reason for an Old Answer," UCLA Economics Working Papers 125, UCLA Department of Economics. [Downloadable!]
Buiter, Willem H, 1981. "Time Preference and International Lending and Borrowing in an Overlapping-Generations Model," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 769-97, August. [Downloadable!] (restricted)
Other versions:
- Willem H. Buiter, 1981. "Time Preference and International Lending and Borrowing in an Overlapping-Generations Model," NBER Working Papers 0352, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Bhagwati, Jagdish N. & Brecher, Richard A., 1980. "National welfare in an open economy in the presence of foreign-owned factors of production," Journal of International Economics, Elsevier, vol. 10(1), pages 103-115, February. [Downloadable!] (restricted)
Kareken, John & Wallace, Neil, 1977. "Portfolio autarky: A welfare analysis," Journal of International Economics, Elsevier, vol. 7(1), pages 19-43, February. [Downloadable!] (restricted)
Jonathan Eaton, 1987. "A Dynamic Specific-Factors Model of International Trade," NBER Working Papers 1479, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Eaton, Jonathan, 1987. "A Dynamic Specific-Factors Model of International Trade," Review of Economic Studies, Blackwell Publishing, vol. 54(2), pages 325-38, April. [Downloadable!] (restricted)
Christophe Chamley & Wright, Brian D. Wright, 1983. "Fiscal Incidence in a Dynamic Life-Cycle Model with Land," Cowles Foundation Discussion Papers 666, Cowles Foundation, Yale University. [Downloadable!]
Srinivasan, T. N., 1983. "International factor movements, commodity trade and commercial policy in a specific factor model," Journal of International Economics, Elsevier, vol. 14(3-4), pages 289-312, May. [Downloadable!] (restricted)
Feldstein, Martin S, 1977. "The Surprising Incidence of a Tax on Pure Rent: A New Answer to an Old Question," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 349-60, April. [Downloadable!] (restricted)
Brecher, Richard A. & Findlay, Ronald, 1983. "Tariffs, foreign capital and national welfare with sector-specific factors," Journal of International Economics, Elsevier, vol. 14(3-4), pages 277-288, May. [Downloadable!] (restricted)
Bhagwati, Jagdish N. & Tironi, Ernesto, 1980. "Tariff change, foreign capital and immiserization : A theoretical analysis," Journal of Development Economics, Elsevier, vol. 7(1), pages 71-83, February. [Downloadable!] (restricted)

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

James A. Brander, 1989. "Taxation of Foreign-Owned Land," NBER Working Papers 3070, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Petrucci, Alberto, 2006. "Wealth Accumulation and Growth in a Specific-Factors Model of Trade and Finance," Economics & Statistics Discussion Papers esdp06029, University of Molise, Dept. SEGeS. [Downloadable!]
Petrucci, Alberto, 2005. "The Incidence of a Tax on Pure Rent in a Small Open Economy," Economics & Statistics Discussion Papers esdp05025, University of Molise, Dept. SEGeS. [Downloadable!]
Other versions:
- Petrucci, Alberto, 2006. "The incidence of a tax on pure rent in a small open economy," Journal of Public Economics, Elsevier, vol. 90(4-5), pages 921-933, May. [Downloadable!] (restricted)
Bertrand Crettez & Claire Loupias & Philippe Michel, 1997. "Croissance et modes de propriété des terres," Annales d'Economie et de Statistique, ADRES, issue 48, pages 07, Octobre-D. [Downloadable!]
Nobuhiro Kiyotaki & Kenneth D. West, 2004. "Land Prices and Business Fixed Investments in Japan," NBER Working Papers 10909, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Jonathan Skinner, 1989. "Housing Wealth and Aggregate Saving," NBER Working Papers 2842, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Skinner, Jonathan, 1989. "Housing wealth and aggregate saving," Regional Science and Urban Economics, Elsevier, vol. 19(2), pages 305-324, May. [Downloadable!] (restricted)

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