This article identifies and discusses some commonly made claims about the EU Commission's proposed FTT: (i) ordinary citizens and businesses will hardly be affected by the FTT, (ii) the proposed FTT is a “small tax”, (iii) the financial sector is under-taxed, (iv) high-frequency trading...

How valuable are long-term supplier relationships? To address this question, this paper explores relationships between U.S. importers and their suppliers abroad. We first establish several facts: almost half of U.S. imports are in relationships three years or older, relationship survival and...

Using a unique confidential data set with industry disaggregation of official U.S. claims and liabilities, we find that dollar-denominated securities are increasingly inter-mediated by tax havens financial centers (THFC) and by less regulated funds. These securities are risky and respond to tax...