excessive (greater than first-best) R&D investment and output growth. -- legal system ; commitment ; flexibility ; innovation … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal …

This paper studies how corporate tax hikes transmit across countries through multinationals' internal networks of …

rollouts lead to significant reductions in firm sales and employment at exposed suppliers, an increase in their salaries to … initially low-wage workers and a reduction in their low-wage employment share. We then use the estimated effects and the …

labor market? We use data for Norway to show that the labor market is characterized by a job ladder, with multinationals on … data. In a counterfactual where multinationals face an infinite entry cost, payments to labor fall and profits of domestic …

Tariffs have almost completely disappeared but various restrictions on foreign entry remain for multinationals. Many … multinationals can shift their profits explain the absence of FDI agreements? In this paper I develop a model in which governments … can restrict the entry of foreign affiliates and multinationals can shift their profits across countries. I first …

Some multinationals use the parent company as a lender to the group, whereas others set up an internal bank in a low … theory model using data on the universe of German multinationals. The empirical analysis largely supports our model in that …: (i) smaller firms often rely on parental debt financing; (ii) larger multinationals are more likely to use internal banks …