Showing 1 - 10 of 1,216
This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...
Persistent link: https://www.econbiz.de/10011799668
The pervasive use of tax incentives is costly for the Caribbean countries, yet the benefits seem limited. Better policy coordination at the regional level is needed to help overcome the collective action problems and generate more revenue to support the much-needed infrastructure investment....
Persistent link: https://www.econbiz.de/10012301961
This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows … among 38,184 pairs of countries over the period 1995-2017. The results confirm that international tourism is adversely … tourism flows to advanced economies, the magnitude and statistical significance of the impact of infectious diseases are much …
Persistent link: https://www.econbiz.de/10012252260
Luxembourg receives ample investment from multinational corporations, in part due to some attractive features in its international tax rules. Around 95 percent of these foreign investments pass through Luxembourg via companies performing holding and/or intra-group financing activities. While...
Persistent link: https://www.econbiz.de/10012392656
Building on the vast literature, this paper focuses on the role of the structure of the international investment position (IIP) in affecting countries' external vulnerabilities. Using a sample of 73 advanced and emerging economies and new database on the IIP's currency composition, we find that...
Persistent link: https://www.econbiz.de/10012517927
Persistent link: https://www.econbiz.de/10009422237
How did the rise of multinational enterprises (MNEs) put pressure on the prevailing international corporate tax framework? MNEs, and firms with market power, are not new phenomena, nor is the corporate income tax, which dates to the early 20th century. This prompts the question, what is...
Persistent link: https://www.econbiz.de/10012301968
We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Programme at the security level. Our empirical analysis shows that euro area investors (in particular investment funds and households) actively rebalanced away from securities targeted under the Public Sector...
Persistent link: https://www.econbiz.de/10012251289
Macro statistics on foreign direct investment (FDI) are blurred by offshore centers with enormous inward and outward investment positions. This paper uses several new data sources, both macro and micro, to estimate the global FDI network while disentangling real investment and phantom investment...
Persistent link: https://www.econbiz.de/10012155009
Economists interested in location choices usually focus their attention on investments abroad. This neglects the fact that multinational enterprises continue to invest domestically while undertaking foreign expansion. This paper compares investments at home and abroad. Our firm-level dataset...
Persistent link: https://www.econbiz.de/10011779742