Previous authors have concluded that a broad-based consumption tax would be more efficient if financial services to consumers, such as services for investment, loans and insurance, were exempted from the tax, even if taxing the financial services posed no special administrative burden. I argue,...

In recent years U.S. companies have been able to use new tax planning strategies to reduce the foreign taxes they pay on their foreign earnings. Since the companies usually can defer the residual U.S. tax on these earnings, one effect of the reduction in foreign taxes is to increase a...

Examines tax data on U.S.-based multinationals (from federal tax forms 1118 and 5471) to determine responses to the Tax Reform Act of 1986 (TRA '86). Finds that the decrease in the average foreign tax rate on dividends (1984-1992) is attributable to a decrease in country average tax rate.

This paper develops an empirical test to determine whether, on average, capital moves more easily between industries within a country or between coun tries within an industry. The test is applied using cross-section dat a on accounting rates of return to capital of U.S. multinational corp...

Available evidence indicates that costs of nontraded services in domestic transportation, wholesaling, and retailing (domestic margins) are higher if a good is shipped in international trade than if it is shipped from domestic producers to domestic consumers. Consequently, domestic margins...