It is often claimed that multinational firms avoid taxes by shifting income from high-tax to low-tax countries. Using a five year panel of data for two hundred large U.S. manufacturing firms, we find that U.S. tax liability, as a fraction either of U.S. sales or U.S. assets, is related to the...

Agriculture’s potential to reduce poverty at household level is explored for rainfed crop production in Africa and India. A literature survey of crop improvement and natural resource management interventions demonstrates that new technology can substantially increase net returns per hectare...

In this note we derive the local asymptotic power function of the standardized averaged Dickey–Fuller panel unit root statistic of Im, Pesaran, and Shin (2003, <italic>Journal of Econometrics</italic>, 115, 53–74), allowing for heterogeneous deterministic intercept terms. We consider the situation where the...