aggregate uncertainty. Our framework accounts simultaneously for gains from a more efficient capital allocation and gains from … integration has an effect on the steady-state itself, altering convergence gains from capital accumulation. Because we use global … in terms of risk, capital scarcity and size, we find important differences in the effect of financial integration on …

--headquarters does not uniformly "tax" all of the firm's other plants in the same way: It is more likely to take away resources from …

We explore the impact of bilateral tax treaties on foreign direct investment using data from OECD countries over the … suggesting treaties are intended to reduce tax evasion rather than promote foreign investment …

This paper studies optimal taxation of entrepreneurial capital with private information and multiple assets …. Entrepreneurial activity is subject to a dynamic moral hazard problem and entrepreneurs face idiosyncratic capital risk. We first … optimal tax system implements such an allocation as a competitive equilibrium for a given market structure. We consider …

exports and imports capital and can alter its tax on one or the other, but not both. In each case, a 'seesaw' relationship is … identified, in which the optimal tax on the income from capital exports (imports) is inversely related to the given tax rate on …The standard analysis of the optimal international tax policy of a small country typically assumes that the country …

with an incentive to time repatriations so that they occur in years when repatriation tax rates are relatively low. We use … information about cross-country differences in tax rates to separately estimate the influence of permanent tax changes, as would … occur due to changes in statutory tax rates, and transitory tax changes on dividend repatriations. Our data contains U …

capital income tax rates, coupled with the residence principle of international income taxation, can be an important source of … liberalizing capital flows on long-run growth may not be all that sizable, the growth effects of changes in capital income tax …We provide an exploratory quantitative analysis of the role of capital mobility and international taxation in …

divergence in the after-tax rates of return on capital across countries, as when the residence principle is adopted universally …. When this is the case, how tax differences affect the growth rates of population and human capital will depend on the …We consider the role of capital mobility and international taxation. In explaining the observed diversity in long …

Our paper begins with the relatively simple problem of optimal taxation as viewed by the capital-exporting ("home …") country when it can assume that its actions do not alter the tax rate in the host country. Section I also shows that when … foreign investment accounts for a significant fraction of production in the host country, the capital-exporting country should …

This paper uses a dynamic computable general equilibrium model to compare, in an economy open to international capital … flows, the effects of two U.S. policies intended to promote domestic capital formation. The two policies -- the introduction … of an investment tax credit (ITC) and a reduction in the statutory corporate income tax rate -- differ in their treatment …