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Revenue Implications of Destination-Based Cash-Flow Taxation

Hebous, Shafik - 2019

We estimate the revenue implications of a Destination Based Cash Flow Tax (DBCFT) for 80 countries. On a global average, DBCFT revenues under unchanged tax rates would remain similar to the existing corporate income tax (CIT) revenue, but with sizable redistribution of revenue across countries....

Persistent link: https://www.econbiz.de/10012892131

Reasons for the Demise of Interest : Savings Glut and Secular Stagnation or Central Bank Policy?

Schnabl, Gunther - 2019

for the future (global savings glut). Low growth is linked to slowing population growth and a declining marginal …, from the perspective of Austrian business cycle theory, interest rates were step by step decreased by central banks to … nihilo and the need of time to produce capital invalidates the IS identity assumed in the Keynesian theory to hold …

Persistent link: https://www.econbiz.de/10012858697

In praise of tax havens: international tax planning and foreign direct investment

Hong, Qing; Smart, Michael - 2007

The multinationalization of corporate investment in recent years has given rise to a number of international tax avoidance schemes that may be eroding tax revenues in industrialized countries, but which may also reduce tax burdens on mobile capital and so facilitate investment. Both the welfare...

Persistent link: https://www.econbiz.de/10010264087

Enhanced cooperation in an asymmetric model of tax competition

Vrijburg, Hendrik; De Mooij, Ruud A. - 2010

This paper analyzes enhanced cooperation agreements in corporate taxation in a three country tax competition model where countries differ in size. We characterize equilibrium tax rates and the optimal tax responses due to the formation of an enhanced cooperation agreement. Conditions for...

Persistent link: https://www.econbiz.de/10010266099

Economic integration and the optimal corporate tax structure with heterogeneous firms

Bauer, Christian; Davies, Ronald B.; Haufler, Andreas - 2011

We study the optimal combination of corporate tax rate and tax base in a model of a small open economy with heterogeneous firms. We show that it is optimal for the small country's government to effectively subsidize capital inputs by granting a tax allowance in excess of the true costs of...

Persistent link: https://www.econbiz.de/10010277408

Why countries compete in ad valorem instead of unit capital taxes

Hoffmann, Magnus; Runkel, Marco - 2012

This paper contributes to resolving the puzzle that in practice most countries use ad valorem (corporate income) taxation, while a large part of the tax competition literature views business taxes as unit (wealth) taxation. We point to the dual role corporate taxation plays in attracting mobile...

Persistent link: https://www.econbiz.de/10010283596

Should tax policy favor high- or low-productivity firms?

Langenmayr, Dominika; Haufler, Andreas; Bauer, … - 2012

Heterogeneous firm productivity seems to provide an argument for governments to pursue 'pick-the-winner' strategies by subsidizing highly productive firms more, or taxing them less, than their less productive counterparts. We appraise this argument by studying the optimal choice of effective tax...

Persistent link: https://www.econbiz.de/10010291519

Optimal tax policy when firms are internationally mobile

Becker, Johannes; Fuest, Clemens - 2005

The standard tax theory result that investment should not be distorted is based on the assumption that profits are …

Persistent link: https://www.econbiz.de/10010261368

Uncertainty and Monetary Policy During Extreme Events

Pellegrino, Giovanni - 2020

How damaging are uncertainty shocks during extreme events such as the great recession and the Covid-19 outbreak? Can monetary policy limit output losses in such situations? We use a nonlinear VAR framework to document the large response of real activity to a financial uncertainty shock during...

Persistent link: https://www.econbiz.de/10012822498

Market-Based Monetary Policy Uncertainty

Bauer, Michael - 2019

This paper investigates the role of monetary policy uncertainty for the transmission of FOMC actions to financial markets using a novel model-free measure of uncertainty based on derivative prices. We document a systematic pattern in monetary policy uncertainty over the course of the FOMC...

Persistent link: https://www.econbiz.de/10012871021

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