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Salter Working Paper Number 21

Incorporating International Capital Mobility into SALTER by Robert McDougall is Working Paper number 21 in the development of The SALTER Model of the World Economy.

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CONTENTS

1   SALTER background

2   Overview of the capital mobility extension
The framework
International allocation of capital
The world stock of capital
National, household and government accounts
International allocation of investment

3   Modifications to the SALTER theoretical structure
International allocation of capital
The world capital stock
Wealth accumulation
National income
Household income
Government receipts and outlays
International allocation of investment

4   Modifications to the SALTER database

Appendix A   The wealth accumulation equations

Appendix B   Expected rate of change in the rate of return on capital

References

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