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Capital Account Liberalization, Structural Change, and Female Employment
This academic paper studies the effects of capital account liberalization on female employment and its implications for structural change in developing countries. Using a large industry-level panel of 88 low and low-middle-income countries, we provide evidence that episodes of financial liberalization lead to large declines in female employment in tradable …
Corporate Taxation and Market Power Wealth
This academic paper studies the aggregate and distributional effects of corporate tax reforms when market power is heterogeneous across sectors and firms. We use a life-cycle model with incomplete markets in which capital and equity do not always move in tandem when corporate tax policy changes. On the one hand, …
New Macroeconomic Model Shows TCJA Corporate Tax Cut was Harmful to the Economy in both Aggregate and Distributional Terms
This brief explains IMPA’s analysis of the corporate tax cuts in the Tax Cuts and Jobs Act (TCJA). IMPA’s analysis accurately predicts the growth in investment, output, jobs, and wages that followed its enactment. Read Full Report …
