propagated abroad. In previous work, we built on the theory of rational bubbles to develop a framework to think about the origins …

The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk … managerial advice. It considers dierential wage and capital income taxes, a comprehensive income tax, incomplete loss offset …

We propose a model consistent with two observations. First, the tax rates adopted by different countries are generally … their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates … have a very small impact on long-run growth rates. But as tax rates rise, their negative impact on growth rises …

This paper develops a simple theory of capital controls as dynamic terms-of-trade manipulation. We study an infinite … relative strength of this desire between two consecutive periods. Specifically, it is optimal for the strategic country to tax … capital inflows (or subsidize capital outflows) if it grows faster than the rest of the world and to tax capital outflows (or …