Tariffs have almost completely disappeared but various restrictions on foreign entry remain for multinationals. Many … multinationals can shift their profits explain the absence of FDI agreements? In this paper I develop a model in which governments … can restrict the entry of foreign affiliates and multinationals can shift their profits across countries. I first …

thin capitalization rules when multinationals can also shift income via transfer prices. We show that while permissive thin …

multinational firms show that the tax sensitivity of debt is more modest than what one would expect given the incentives for profit …

Some multinationals use the parent company as a lender to the group, whereas others set up an internal bank in a low … theory model using data on the universe of German multinationals. The empirical analysis largely supports our model in that …: (i) smaller firms often rely on parental debt financing; (ii) larger multinationals are more likely to use internal banks …

labor market? We use data for Norway to show that the labor market is characterized by a job ladder, with multinationals on … data. In a counterfactual where multinationals face an infinite entry cost, payments to labor fall and profits of domestic …