We examine how tax cuts that benefit some firms are related to the economic performance of their direct competitors. Consistent with tax cuts decreasing the cost of initiating competitive strategies, we find that a decrease in the tax burden for only a certain group of firms in the U.S. economy...

We examine how tax cuts that benefit some firms are related to the economic performance of their direct competitors. Consistent with tax cuts decreasing the cost of initiating competitive strategies, we find that a decrease in the tax burden for only a specific group of firms in the U.S. economy...

The recent U.S. international tax reforms are a hodgepodge of nominal and effective tax rate reductions, a poorly designed export subsidy and unnecessarily complex revenue raising tax base protections. The most significant “international” change in the 2017 U.S. tax legislation is the...