The Samuelson tax is a neutral business income tax on the normal return on capital only. I discuss two modifications of the Samuelson tax in order to include pure profits in its tax base, but still achieve neutral business taxation.

The capital structure of foreign affiliates is analyzed using a large panel of German multinationals. While taxes are found to encourage debt finance in general, adverse local credit market conditions result in lower external borrowing but higher internal debt indicating that the two channels of...

This paper estimates the effect of switching into and out of 14 different modes of exchange rate arrangements on bilateral exports between 1948 and 2001 in the world economy. Increasing the exchange rate arrangement tightness by one degree in the classification of Reinhart and Rogoff [Reinhart,...