There are only a few OECD Member countries with a lower tax take than the United States. Nonetheless there are a number of improvements that could help reduce the distortions that taxation creates in the economy and so boost long-run economic performance. The most noticeable gains could come...

Managers of US multinational corporations generally respond with a "big yawn" to warnings that the world trading system might evolve into a set of protectionist regional blocs. Their lack of fear is justified, since both their past strategies and their more recent, supposedly global strategies...

This paper measures the net dollar position of the non-U.S. private sector and a few other international positions -- notably the net foreign-currency position of the U.S. private sector. These currency positions provide the basis for a discussion of portfolio effects which are especially...