Developing countries have a variety of governmental and trade policies which are intended to affect the return to capital. In our estimation of the return to capital in Colombia we attempt to account for taxes, both direct and indirect, governmental subsidies, and trade taxes and subsidies. We...

We analyze the initial corporate response to the 2017 enactment of the “Tax Cuts and Jobs Act” or TCJA. TCJA changed many corporate tax provisions, including a reduction of the corporate statutory tax rate from 35 percent to 21 percent effective in 2018 and sweeping changes to the taxation...

We show that, for both individuals and corporations, there is an aggregate overhang of realized losses that can be expected to have persistent effects. At the taxpayer level, we use panel data to show that the transition probabilities between taxpayers' states of capital realizations—losses,...

We construct measures of export similarity among seventeen Latin American countries over the period 1962-1991. Based on cluster analyses, we analyze patterns of similarity or complementarity in the commodity composition of various countries1 export portfolios. While exports of primary products...

Analyses of Colombian data have generally failed to confirm the hypothesis of export-led growth. In this paper, we generate several measures of export diversification and structural change in exports, and argue that these measures are useful in assessing growth externalities generated by the...

For years economists have ignored the diversity in agriculture and its potential to increase long run growth rates by enhancing a country's knowledge base. Nontraditional agriculture requires significant investments in infrastructure and knowledge: and therefore, has the potential to increase...

This paper is an attempt to establish some stylized facts about the process of export diversification and structural change in exports for six key Latin American economies: Argentina, Brazil, Chile, Colombia, Mexico and Venezuela. Our results show that there has been a long-run trend toward...