This report looks at how corporate income taxes have changed over the past two decades, what incentives they provide for domestic and international investment, and whether changes in the international economy have helped shape these reforms.

We examine a deregulation of German pharmacists to assess its effects on retail and labor markets. From 2004 onward, the reform allowed pharmacists to expand their single-store firms and to open or acquire up to three a liated stores. This partial deregulation of multi-store prohibition reduced...