The new US income tax deduction for “foreign-derived intangible income” effectively lowers the corporate tax rate — from 21% to around 13% — on export-generated income attributable to intangible assets. This paper considers the new provision both in relation to international trade and...

Despite extensive efforts, the relation between tax incentives and corporate capital structure is an open question. The 2017 US tax reform creates an opportunity to directly estimate this relation. The reform limits the tax advantage of debt for all firms except for small businesses with average...

Micro data from audited tax returns are used to evaluate changes in the actual progressivity of U.S. federal income taxes in 1979 and 1988, which is distinct from apparent progressivity. Statistical inference methods are applied to global measures of both actual and apparent residual and...