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We study the economic consequences of anti-loss trafficking rules, which disallow the use of loss carry-forwards as tax shield after a substantial ownership change. Using staggered changes to these rules, we find that limiting the transfer of tax losses reduces the number of M&As with...
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We use a novel experimental design to identify the subjects' strategies in an infinitely repeated prisoners' dilemma … experiment. We ask subjects to design strategies that will play in their place. We find that eliciting strategies has negligible … effects on their behavior, supporting the validity of this method. We find the chosen strategies include some common ones such …
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We adapt a theoretical model from the goods trade literature to test whether banks with a comparative cost advantage are more likely to enter foreign markets by means of foreign direct investment. We combine detailed proprietary bank-level data on the international activities of all German banks...
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The transition from an oil-based to a knowledge-based economy requires that the Saudi population dramatically increases its level of human capital. This paper argues that noncognitive skills may be a bottleneck in the formation of human capital and proposes a policy to indirectly strengthen...
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