. Many tax policies, however, have effects which are markedly different both from the effects that these policies would have … distortionary effect on the pattern of extraction. More generally, it is shown that the effects of tax structure on the patterns of … extraction are critically dependent on expectations concerning future taxation. (The changes in tax structure which have occurred …

taxes and firms' inability to credibly exit a country indefinitely. A government sets a low initial tax inducing high …

after-tax returns. Foreign taxes fell abruptly after the first Gulf War. In sectors other than oil, the effective foreign … tax rate has fallen by half since the late 1990s. Almost half of this decline owes to the rise of profit shifting to tax …