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Tax Policy and Investment in a Global Economy

Chodorow-Reich, Gabriel; Smith, Matthew; Zidar, Owen M.; … - National Bureau of Economic Research - 2024

We evaluate the 2017 Tax Cuts and Jobs Act. Combining reduced-form estimates from tax data with a global investment model, we estimate responses, identify parameters, and conduct counterfactuals. Domestic investment of firms with the mean tax change increases 20% versus a no-change baseline. Due...

Persistent link: https://www.econbiz.de/10014512034

Regime Changes and FDI : A Tale of Two Countries – Poland and Israel

Razin, Asaf; Cieślik, Andrzej - National Bureau of Economic Research - 2024

This essay highlights the effects of radical transformations in the liberal characteristics of the regimes on foreign direct investors. To focus on the common patterns in the effects on foreign direct investment, of liberal vs. illiberal regime change, the essay spotlights the tale of two...

Persistent link: https://www.econbiz.de/10014576643

Catching Up by "Deglobalizing" : Capital Account Policy and Economic Growth

Bergin, Paul R.; Choi, Woo Jin; Pyun, Ju Hyun - National Bureau of Economic Research - 2023

While substantial empirical research has evaluated the question of whether capital account openness promotes economic growth, this paper finds empirical evidence for cases where the opposite is true--that a policy of capital controls can promote economic growth, when combined with a policy of...

Persistent link: https://www.econbiz.de/10014226141

FDI and Superstar Spillovers : Evidence from Firm-to-Firm Transactions

Amiti, Mary; Duprez, Cédric; Konings, Jozef; Van … - National Bureau of Economic Research - 2023

Despite competition concerns over the increasing dominance of global corporations, many argue that productivity spillovers from multinationals to domestic firms justify pro- FDI policies. For the first time, we use firm-to-firm transaction data in a developed country to examine the impact of...

Persistent link: https://www.econbiz.de/10014250146

Global Risk, Non-Bank Financial Intermediation, and Emerging Market Vulnerabilities

Chari, Anusha - National Bureau of Economic Research - 2023

Over the last two decades, the unprecedented increase in non-bank financial intermediation, particularly open-end mutual funds and ETFs, accounts for nearly half of the external financing flows to emerging markets exceeding cross-border lending by global banks. Evidence suggests that investment...

Persistent link: https://www.econbiz.de/10014250161

Foreign Technology Adoption as a Flying Propeller

Hu, Yunfang; Kunieda, Takuma; Nishimura, Kazuo; Wang, Ping - National Bureau of Economic Research - 2023

We construct a dynamic general equilibrium model of foreign direct investment (FDI) and foreign technology adoption, incorporating adoption barriers, international technology spillover, and relative price advantages. A higher FDI conversion efficacy, a lower adoption barrier, or a stronger...

Persistent link: https://www.econbiz.de/10014250176

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

Inflation Surge and Sovereign Borrowing : The Role of Policy Practices in Strengthening Sovereign Resilience

Aizenman, Joshua; Zheng, Huanhuan - National Bureau of Economic Research - 2023

Sovereign borrowing during inflation surges is a litmus test of a government's ability to withstand and navigate macroeconomic shocks. Based on transaction-level bond issuance data, we explore how sovereign financing strategies respond to inflation surges and how policy practices affect their...

Persistent link: https://www.econbiz.de/10014250190

Climate Risks and FDI

Gu, Grace Weishi; Hale, Galina - National Bureau of Economic Research - 2022

framework for firm production location choice that explicitly incorporates transition and physical risks. The model predicts a …

Persistent link: https://www.econbiz.de/10013388808

Combinatorial Discrete Choice : A Quantitative Model of Multinational Location Decisions

Arkolakis, Costas; Eckert, Fabian; Shi, Rowan - National Bureau of Economic Research - 2023

We introduce a general quantifiable framework to study the location decisions of multinational firms. In the model … complementarities among production locations. The firm's location choice problem is combinatorial because the marginal value of an … individual production location depends on its complete set of production sites. We develop a computational method to solve such …

Persistent link: https://www.econbiz.de/10014437008