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International corporate tax issues are prominent in public debate, notably with the G20-OECD project addressing Base Erosion and Profit Shifting (‘BEPS’). But while there is considerable empirical evidence for advanced countries on the cross-country fiscal externalities at the heart of these issues, there is almost none for developing countries. This paper uses panel data for 173 countries over 33 years to explore their magnitude and nature, focusing particularly on developing countries and applying a new method to distinguish between spillover effects through real decisions and through avoidance —and quantify the revenue impact of the latter. The results suggest that spillover effects on the tax base are if anything a greater concern for developing countries than for advanced—and a significant one.

International business enterprises -- Taxation -- Law and legislation. --- Transfer pricing -- Taxation -- Law and legislation. --- Transfer pricing. --- Finance --- Business & Economics --- Financial Management & Planning --- Macroeconomics --- Public Finance --- Taxation --- Corporate Taxation --- International Investment --- Long-term Capital Movements --- Multinational Firms --- International Business --- Business Taxes and Subsidies --- Taxation, Subsidies, and Revenue: General --- Externalities --- Tax Evasion and Avoidance --- Corporate & business tax --- Public finance & taxation --- Corporate income tax --- Average effective tax rate --- Spillovers --- Tax avoidance --- Revenue administration --- Taxes --- Tax policy --- Financial sector policy and analysis --- Corporations --- Tax administration and procedure --- International finance --- Tax evasion --- Revenue --- United States

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Macroeconomics is the study of the economy as a whole and of work and saving choices of individual economic agents from which macroeconomic activity emerges. This book takes an integrative approach to that topic, showing how short-run and long-run forces operate simultaneously to determine the behavior of key economic indicators such as employment and real, inflation-adjusted GDP.

Macroeconomics. --- aggregate demand --- aggregate supply --- baseline scenario --- chain-weight method --- classical tradition --- Cobb-Douglas production function --- compensated supply curve --- consumption tax --- contractive monetary and fiscal policy --- cost of capital --- demand multiplier --- depreciation rate --- diminishing marginal rate of substitution --- excess demand --- excess supply --- expansive monetary and fiscal policy --- flat tax --- frictional unemployment --- full employment --- golden rule of economic growth --- Great Contraction --- gross national product --- income effect --- individual equilibrium --- interest parity condition --- intertemporal elasticity of substitution --- INUS --- Keynesian scenario --- labor force participation rate --- labor income --- Laffer curve --- leisure --- longrun aggregate supply --- macro foundations --- marginal effective tax rate --- marginal product --- marginal propensity to consume --- marginal propensity to produce --- marginal rate of substitution --- marginal utility --- micro foundations, money --- natural unemployment rate --- net foreign investment --- new classical economics --- nominal rate of return --- non-accelerating inflation rate of unemployment --- non- accelerating inflation rate of labor-force participation --- output supply multiplier --- Phillips curve --- potential GDP --- present value --- purchasing power parity --- rate of time preference --- real rate of return --- replacement rate --- repressed inflation --- repressed wages --- saving rate --- self-reliance rate --- short-run aggregate supply --- stabilization policies --- steady state of economic growth --- structural unemployment --- substitution effect --- supply side economics --- uncompensated supply curve --- unemployment rate