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are perceived to be less "efficient." In this paper I develop a theory of public contracting that accommodates these stark …
Persistent link: https://www.econbiz.de/10005714643
Does the environment have a causal effect on economic development? Using meteorological data, we reconstruct every country's exposure to the universe of tropical cyclones during 1950-2008. We exploit random within-country year-to-year variation in cyclone strikes to identify the causal effect of...
Persistent link: https://www.econbiz.de/10010821718
Is there a way to understand why some global environmental externalities are addressed effectively whereas others are not? The transaction costs of defining the property rights to mitigation benefits and costs is a useful framework for such analysis. This approach views international cooperation...
Persistent link: https://www.econbiz.de/10010796556
incomplete. Since real-world IEAs fit in the incomplete contracting environment, our theory may help explaining the rising …
Persistent link: https://www.econbiz.de/10010969245
Over the years, there emerged two key policy differences between Europe and America, both welfare and migration-states. The former has more generous welfare state and more liberal migration policies than the latter. In this paper we attempt to provide a political-economy explanation for these...
Persistent link: https://www.econbiz.de/10010951466
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/10009370804
While governments have multiple tax instruments available to them, studies of the effect of tax policy on the locational decisions of multinationals typically focus exclusively on host country corporate income tax rates and their interaction with home country tax rules. This paper examines the...
Persistent link: https://www.econbiz.de/10005088645
which is Pareto improving in the standard model is so difficult in the real world. The key theoretical insight is that …
Persistent link: https://www.econbiz.de/10005084777
The integration of world capital markets carries important implications for the design and impact of tax policies. This … recent efforts to reconcile observations with theory. To the extent that multinational firms possess intangible capital on …
Persistent link: https://www.econbiz.de/10005085053
Alternatives to the current system of separate tax accounting, such as the proposed Common Consolidated Corporate Tax Base in Europe, would apportion a firm's worldwide profits using formulas based on the location of employment, capital or sales. This paper offers a new method of evaluating the...
Persistent link: https://www.econbiz.de/10005061583