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Global Profit Shifting, 1975-2019
Wier, Ludvig S.; Zucman, Gabriel - National Bureau of Economic Research - 2022
This paper constructs time series of global profit shifting covering the 2015-19 period, during which major international efforts were implemented to curb profit shifting. We find that (i) multinational profits grew faster than global profits, (ii) the share of multinational profits booked in...
Persistent link: https://www.econbiz.de/10013462721
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Distorted Innovation : Does the Market Get the Direction of Technology Right?
Acemoglu, Daron - National Bureau of Economic Research - 2023
In the presence of markup differences, externalities and other social considerations, the equilibrium direction of innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing comparative static results and characterizes...
Persistent link: https://www.econbiz.de/10014226119
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The Micro and Macro Productivity of Nations
Ayerst, Stephen; Nguyen, Duc; Restuccia, Diego - National Bureau of Economic Research - 2024
We examine aggregate productivity differences across nations using cross-country firm-level data and a quantitative model of production heterogeneity with distortions featuring operation decisions (selection) and productivity-enhancing investments (technology). Empirically, less developed...
Persistent link: https://www.econbiz.de/10014635713
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Supply-Chain Trade : A Portrait of Global Patterns and Several Testable Hypotheses
Baldwin, Richard - 2013
The trade linked to international production networks - supply-chain trade for short - is associated with momentous global economic changes. This paper presents a portrait of the global pattern of supply-chain trade and how it has evolved since 1995. The paper draws on a variety of data sources...
Persistent link: https://www.econbiz.de/10012459705
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Industrial Policy and Downstream Export Performance
Blonigen, Bruce - 2013
Industrial policies (IPs) include such varying practices as production subsidies, export subsidies, and import … intensively. These general negative effects of IPs are primarily due to export subsidies and non-tariff barriers, particularly in …
Persistent link: https://www.econbiz.de/10012459971
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Evaluating Tax Harmonization
Hines, James R. - National Bureau of Economic Research - 2023
Tax harmonization entails a uniform rate that may not suit all governments. Harmonization can advance collective governmental objectives only if the standard deviation of tax rates is less than the average downward effect of tax competition on rates. Since an efficient harmonized tax rate undoes...
Persistent link: https://www.econbiz.de/10014437031
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International Diversification, Reallocation, and the Labor Share
David, Joel M.; Rancière, Romain; Zeke, David - National Bureau of Economic Research - 2023
How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as...
Persistent link: https://www.econbiz.de/10014250185
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The Impact of AI and Cross-Border Data Regulation on International Trade in Digital Services : A Large Language Model
Sun, Ruiqi; Trefler, Daniel - National Bureau of Economic Research - 2023
The rise of artificial intelligence (AI) and of cross-border restrictions on data flows has created a host of new questions and related policy dilemmas. This paper addresses two questions: How is digital service trade shaped by (1) AI algorithms and (2) by the interplay between AI algorithms and...
Persistent link: https://www.econbiz.de/10014437056
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Fiscal Stimulus and Commercial Bank Lending Under COVID-19
Aizenman, Joshua; Jinjarak, Yothin; Spiegel, Mark - National Bureau of Economic Research - 2022
We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...
Persistent link: https://www.econbiz.de/10013172181
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Subsidy Agreements
Bagwell, Kyle - 2004
International disputes over subsidies are increasingly disrupting the world trading system. The creation of the WTO was … agricultural subsidies, an issue which continues to plague the ongoing Doha Round of WTO negotiations. Ongoing disputes over … subsidies that violate existing WTO rules have led to the largest amount of authorized retaliation in GATT/WTO history. Yet the …
Persistent link: https://www.econbiz.de/10012468402