This paper studies international trade and macroeconomic dynamics triggered by economic sanctions, and the associated welfare losses, in a calibrated, three-country model of the world economy. We assume that there are two production sectors in each country, and the sanctioned country has a...

This paper examines the effect of national culture on corporate risk-taking around the world. Specifically, we focus on one particular culture trait – individualism – a culture dimension that has been linked to risk-taking and overconfidence. Using a sample of 48 countries over the period...

This paper reconsiders the empirical evidence of the relationship between tax treaties and FDI using U.S. outbound FDI to 78 countries over the period of 2007-2018. Unlike previous studies, we explicitly consider differences in the tax environments of recipient economies, including their...