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Why is There Corporate Taxation in a Small Open Economy? The Role of Transfer Pricing and Income Shifting
Gordon, Roger H. - 2009
Several recent papers argue that corporate income taxes should not be used by small, open economies. With capital mobility, the burden of the tax falls on fixed factors (e.g., labor), and the tax system is more efficient if labor is taxed directly. However, corporate taxes not only exist but...
Persistent link: https://www.econbiz.de/10012767953
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The International Price System
Gopinath, Gita - 2015
I define and provide empirical evidence for an “International Price System” in global trade employing data for thirty-five developed and developing countries. This price system is characterized by two features. First, the overwhelming share of world trade is invoiced in very few currencies,...
Persistent link: https://www.econbiz.de/10013013511
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Addressing the Transfer-Pricing Problem in an Origin-Basis X Tax
Bradford, David F. - 2021
In a previous paper I described how the tax design called the X Tax would facilitate an international tax system free of many of the complexities and avoidance opportunities plaguing the existing international tax regime and also have neutrality properties generally deemed desirable. A choice...
Persistent link: https://www.econbiz.de/10013226542
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Organization and Inequality in a Knowledge Economy
Garicano, Luis; Rossi-Hansberg, Esteban - 2021
We present a theory of the organization of work in an economy where knowledge is an essential input in production: a … may produce on their own or in organizations. Our theory generates an assignment of workers to positions, a wage structure … referral markets. We use our theory to study the impact of information and communication technology, and contrast its …
Persistent link: https://www.econbiz.de/10013231868
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Offshoring in a Knowledge Economy
Antras, Pol; Garicano, Luis; Rossi-Hansberg, Esteban - 2022
question we propose a theory of the assignment of heterogeneous agents into hierarchical teams, where less skilled agents …
Persistent link: https://www.econbiz.de/10013323444
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Speculative Growth : Hints from the Us Economy
Caballero, Ricardo J. - 2010
We propose a framework for understanding recurrent historical episodes of vigorous economic expansion accompanied by extreme asset valuations, as exhibited by the U.S. in the 1990s. We interpret this phenomenon as a high-valuation equilibrium with a low effective cost of capital based on...
Persistent link: https://www.econbiz.de/10012762624
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Ai and the Economy
Furman, Jason - 2018
We review the evidence that artificial intelligence (AI) is having a large effect on the economy. Across a variety of statistics—including robotics shipments, AI startups, and patent counts—there is evidence of a large increase in AI-related activity. We also review recent research in this...
Persistent link: https://www.econbiz.de/10012916895
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The Transition to a New Economy after the Second Industrial Revolution
Atkeson, Andrew; Kehoe, Patrick J. - 2021
During the Second Industrial Revolution, 1860-1900, many new technologies, including electricity, were invented. These inventions launched a transition to a new economy, a period of about 70 years of ongoing, rapid technical change. After this revolution began, however, several decades passed...
Persistent link: https://www.econbiz.de/10013212571
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Multinational Corporations, Transfer Prices, and Taxes : Evidence from the U.S. Petroleum Industry
Bernard, Jean-Thomas - 2010
Economic research on transfer-pricing behavior by multinational corporadons has emphasized theoretical modeling and institutional description. This paper presents the fiit systematic empirical analysis of transfer prices, using data from the petroleum industry. On the basis of oil imported into...
Persistent link: https://www.econbiz.de/10012762748
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The X Tax in the World Economy
Bradford, David F. - 2021
This paper considers the treatment of multinational business in the system known as an X Tax. The focus is on the choice between origin and destination treatments of transborder transactions. The destination-principle approach sidesteps the transferpricing problem. It remains in the...
Persistent link: https://www.econbiz.de/10013243969