Many European countries restrict immigration from new EU member countries. The rationaleis to avoid adverse wage and employment eects. We quantify these eects forGermany. Following Borjas (2003), we estimate a structural model of labor demand,based on elasticities of substitution between workers...

This paper investigates the role of corporate taxation with respect to a multinational'sinvestment decision, in which the multinational can pursue either a direct or an indirectinvestment strategy. The latter involves at least three corporate entities and opens upenhanced opportunities for...

This paper analyzes the effectiveness of thin-capitalization rules in preventing debt financeby intercompany loans and explores their consequences for corporate decisions. A theoreticaldiscussion emphasizes that limitations of the deduction of interest owed to foreign afiliateswould not only...