We exploit the 2017 US tax reform to learn about the tax-competitiveness of US multinational corporations (MNCs) relative to their international peers. Matching on the propensity score, we compare pairs of similar US and European firms listed on the S&P500 or StoxxEurope600 in a...

This paper utilizes a simple general-equilibrium model to analyse the long-run effects of Bulgaria's 2007-08 corporate-personal income tax reforms. In particular, we consider the effect working through the firm's capital structure, and argue that the new reforms incentivize firms to increase...

This paper discusses the potential consequences of the international tax provisions of the recent Tax Cut and Jobs Act (TCJA), drawing on existing research. The TCJA's dividend exemption provision is expected to eliminate distortions to the amount and timing of dividend repatriations. However,...

In their famous Mirrlees review (2011) on reforming the tax system for the 21st century, the authors put forward the introduction of an allowance for corporate equity regime. In recent years, several countries introduced an ACE regime. The main feature of an ACE regime is that it removes tax...

There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost of capital. Others see the TCJA primarily as a windfall for shareholders. We find that U.S....

This paper studies the impact of a place-based tax credit policy, the Opportunity Zone program created under the Tax Cuts and Jobs Act of 2017, on local private investments and entrepreneurship. Using a difference-in-differences approach and comparing census tracts designated as Opportunity...

Since the 2009 financial crisis, some national governments have adopted anticyclical tax policies for recovering and economic growth. These policies can be different in terms of what type of tax incentive policy (income, labor, value added) is chosen as well if the strategy is vertical,...

I study how different types of subsidization affect investment decisions in a laboratory experiment. Even though the expected pro t is identical in all treatments, I find highly significant differences between them. In particular, when investment alternatives get subsidized with tax credits the...

This paper examines the macroeconomic effects of tax changes during fiscal consolidations. Webuild a new narrative dataset of tax changes during fiscal consolidation years, containing detailed information on the expected revenue impact, motivation, and announcement and implementation dates of...