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This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The...
Persistent link: https://www.econbiz.de/10012461013
Why are some countries so much richer than others? Development Accounting is a first-pass attempt at organizing the answer around two proximate determinants: factors of production and efficiency. It answers the question "how much of the cross-country income variance can be attributed to...
Persistent link: https://www.econbiz.de/10012467861
Lack of income convergence for the world as a whole has led to concerns about the impact of globalization of markets on world inequality. GDP per capita is usually used to proxy for the quality of life of individuals living in different countries. However, well-being is also affected by quantity...
Persistent link: https://www.econbiz.de/10012468933
Perhaps because health care is a local service sector, health economists have paid little attention to international … involves a public-goods problem; the taxation to fund reimbursements involves a private domestic cost with an international …
Persistent link: https://www.econbiz.de/10012459381
allocation of resources across developed countries at the business cycle frequency. Here we discuss how evidence on international … quantity comovement, exchange rates, asset prices, and international portfolio holdings can be used to assess efficiency …
Persistent link: https://www.econbiz.de/10012459706
This paper explores the link between mobility and the presence of international research networks. Data come from the … evidence suggests that migration plays an important role in the formation of international networks. Approximately 40 percent … that internationally mobile researchers contribute significantly to extending the international scope and quality of the …
Persistent link: https://www.econbiz.de/10012460047
This paper evaluates the ability of U.S. investors to allocate their foreign equity portfolios across 44 countries over a 25-year period. We find that U.S. portfolios achieved a significantly higher Sharpe ratio than foreign benchmarks, especially since 1990. We test whether this strong...
Persistent link: https://www.econbiz.de/10012466319
In this article, we formulate a time-scale decomposition of an international version of the CAPM that accounts for both …
Persistent link: https://www.econbiz.de/10012466435
An optimal linear world income tax that maximizes a border-neutral social welfare function provides a drastic reduction in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast an optimal decentralized (i.e., within countries) redistribution has miniscule...
Persistent link: https://www.econbiz.de/10012469524
concludes with four lessons of history and an agenda for international economists, including more attention to the impact of …
Persistent link: https://www.econbiz.de/10012469549