This paper investigates the determinants of capital structure for 515 U.S. based multinational and domestic corporations for the 1973-1992 period. Key determinants include variables capturing the unlevered effective corporate tax rate, the intensity of use of non-debt tax shelters, and the...

The paper develops a simple Solow-type growth model with endogenous stock price determination to explain the simultaneous occurrence of a stock market boom with subsequent bust and trade deficit in response to a large positive technology shock. The paper is meant to explain some of the open...