benchmark calibration, we estimate that the capital misallocation induced by these barriers reduces World GDP by 7%, compared to …-country inequality: the standard deviation of log capital per employee is 80% higher than it would be in a world without barriers to …

smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which … external debt portfolios, exchange rate cyclicality, and volatility in consumption of low- and middle-income countries. Since …

This paper explores empirically whether and how FDI is affected if multinationals’ home countries change taxation of … foreign earnings by switching from worldwide to territorial taxation. Our analysis employs data for German inbound FDI based … synthetic-control method. Our results confirm effects of the switch from worldwide to territorial taxation on FDI but point at …