H25

Mathilde Muñoz

This paper asks whether differences in labor market regulations — specifically payroll taxes and minimum wages — shape countries' comparative advantage in the cross-border provision of labor-intensive …

Anmol Bhandari · Tobey Kass · Thomas J. May · Ellen R. McGrattan · Evan Schulz

This paper uses a novel longitudinal administrative dataset drawn from U.S. Internal Revenue Service (IRS) and Social Security Administration (SSA) records to characterize income dynamics and the …

Jan Eeckhout · Chunyang Fu · Wenjian Li · Xi Weng

This paper asks whether and how optimal income taxation should change when firms have market power. The question is motivated by the documented rise in economy-wide markups since 1980, which has …

Ivan T Ivanov · Luke Pettit · Toni M Whited

Does corporate income taxation raise or lower corporate leverage? The canonical Modigliani-Miller (1963) view holds that the interest tax deduction makes debt more attractive, predicting a positive …

Mamoon Kader · Hashmat Khan · Minjoon Lee · Raúl Razo-García

This paper uses an open-economy heterogeneous-household model with incomplete markets to evaluate the welfare and distributional consequences of the U.S. Tax Cuts and Jobs Act (TCJA) of 2017 — which …

Fumio Hayashi

Tobin's conjecture that investment depends on marginal q is derived from a general present-value-maximising firm problem with installation costs, giving an investment rule that depends on neither the …

Nirupama L Rao · Max Risch

This paper asks how independent (pass-through) businesses in the United States accommodate minimum wage increases — specifically whether they reduce employment, compress profits, pass costs through to …