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The Impact of Controlled Foreign Company Legislation on Real Investments Abroad: A Two-dimensional Regression Discontinuity Design

Egger, Peter; Wamser, Georg - C.E.P.R. Discussion Papers - 2011

Controlled foreign company (CFC) rules are frequently imposed by countries as part of their anti-tax-avoidance legislation. This paper aims at quantifying their impact on foreign investments by utilizing a regression discontinuity design and the universe of German foreign investments notified to...

Persistent link: https://www.econbiz.de/10009144735

The use of tax havens in exemption regimes

Gumpert, Anna; Hines Jr, James R; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2012

This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The...

Persistent link: https://www.econbiz.de/10011084127

How would the design of an alternative minimum tax impact the effective corporate tax rate in Belgium?

Daxbek, Vincent; Estache, Antonio - C.E.P.R. Discussion Papers - 2013

The main purpose of this paper is to provide an assessment of the impact of the introduction of an alternative minimum tax (AMT) in Belgium with a focus on the impact on various distortions margins. In the process, we provide an up-to date account of the state of effective corporate taxation in...

Persistent link: https://www.econbiz.de/10011084174

Inequality, Tax Avoidance, and Financial Instability

Landier, Augustin; Plantin, Guillaume - C.E.P.R. Discussion Papers - 2011

We model the link between inequality and excessive risk taking. In the presence of increasing returns to tax avoidance, the middle class is willing to take non rewarded financial risk despite risk aversion. Electoral pressure may lead an incumbent politician to endorse this excessive risk taking...

Persistent link: https://www.econbiz.de/10009371468

Structural and Stabilization Aspects of Fiscal and Financial Policy in the Dependent Economy

Buiter, Willem H. - C.E.P.R. Discussion Papers - 1986

The paper considers the response of a small, open dependent economy to a variety of fiscal and financial shocks. It also examines the influence of alternative budget-balancing rules on the response of the economy to external shocks, such as a change in the world interest rate. The approach...

Persistent link: https://www.econbiz.de/10005498001

The Ghost of PAR? Public Expenditure Planning Beyond Plowden

Bosanquet, Nicholas - C.E.P.R. Discussion Papers - 1988

The current control system for public expenditure in the United Kingdom dates from the Plowden Report in 1961 and was developed for a public utilities model. This paper presents detailed evidence on changes in the composition of public expenditure. A new control system is proposed that is better...

Persistent link: https://www.econbiz.de/10005281370

Optimal Campaigning in Presidential Elections: The Probability of Being Florida

Strömberg, David - C.E.P.R. Discussion Papers - 2002

This Paper delivers a precise recommendation for how presidential candidates should allocate their resources to maximize the probability of gaining a majority in the Electoral College. A two-candidate, probabilistic-voting model reveals that more resources should be devoted to states which are...

Persistent link: https://www.econbiz.de/10005792233

Political Connections and Firm Value: Evidence from the Regression Discontinuity Design of Close Gubernatorial Elections

Do, Quoc-Anh; Lee, Yen-Teik; Nguyen, Bang Dang - C.E.P.R. Discussion Papers - 2015

Using the regression discontinuity design of close gubernatorial elections in the U.S., we identify a significant and positive impact of the social networks of corporate directors and politicians on firm value. Firms connected to elected governors increase their value by 3.89%. Political...

Persistent link: https://www.econbiz.de/10011249372

Do Oil Windfalls Improve Living Standards? Evidence from Brazil

Caselli, Francesco; Michaels, Guy - C.E.P.R. Discussion Papers - 2009

We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...

Persistent link: https://www.econbiz.de/10008509470

The Political Resource Curse

Brollo, Fernanda; Nannicini, Tommaso; Perotti, Roberto; … - C.E.P.R. Discussion Papers - 2010

The paper studies the effect of additional government revenues on political corruption and on the quality of … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … transfers increase political corruption and reduce the quality of candidates for mayor. …

Persistent link: https://www.econbiz.de/10008468543

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