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Addressing the Transfer-Pricing Problem in an Origin-Basis X Tax
Bradford, David F. - 2003
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/10012468855
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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. - 1994
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/10012474242
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The Transfer Pricing Problem : Where the Profits Are
Hines, James R, Jr - 1990
Section 1 introduces the material. Section 2 of this paper describes the transfer pricing problem and some solutions that have been proposed in the past. Section 3 offers a different solution and demonstrates that it supports an efficient allocation of resources. Section 4 briefly discusses some...
Persistent link: https://www.econbiz.de/10012475460
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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, with...
Persistent link: https://www.econbiz.de/10012457023
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Organization and Inequality in a Knowledge Economy
Garicano, Luis - 2005
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/10012467222
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Offshoring in a Knowledge Economy
Antràs, Pol - 2005
question we propose a theory of the assignment of heterogeneous agents into hierarchical teams, where less skilled agents …
Persistent link: https://www.econbiz.de/10012467591
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A Short Note on the Size of the Dot-Com Bubble
DeLong, J. Bradford - 2006
A surprisingly large amount of commentary today marks the beginning of the dot-com bubble of the late 1990s from either the Netscape Communications initial public offering of 1995 or Alan Greenspan's "irrational exuberance" speech of 1996. We believe that this is wrong: we see little sign that...
Persistent link: https://www.econbiz.de/10012466660
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Asset Float and Speculative Bubbles
Hong, Harrison - 2005
We model the relationship between asset float (tradeable shares) and speculative bubbles. Investors trade a stock with limited float because of insider lock-ups. They have heterogeneous beliefs due to overconfidence and face short-sales constraints. A bubble arises as price overweighs optimists'...
Persistent link: https://www.econbiz.de/10012467316
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Speculative Growth : Hints from the US Economy
Caballero, Ricardo - 2004
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/10012468175
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The Transition to a New Economy After the Second Industrial Revolution
Atkeson, Andrew - 2001
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/10012470039