In 2013, the Portuguese government offered foreign retirees relocating to Portugal a 10-year tax exemption on their foreign-source pension income, provided their country of origin had a tax treaty ...

Foreign investors have tilted their portfolios toward dollar-denominated assets over the last two decades. The researchers document a sixfold increase in nominal foreign holdings of USD-denominated ...

The Tax Cuts and Jobs Act (TCJA) of 2017 was the most significant reform to corporate taxation in the US in nearly four decades. It reduced the top corporate income tax rate from 35 to 21 percent, ...

We explore how socio-economic background shapes academia, collecting the largest dataset of U.S. academics’ backgrounds and research output. Individuals from poorer backgrounds have been severely ...

Fertility levels have greatly decreased in virtually every nation in the world, but the timing of the decline has differed even among developed countries. In Europe, Asia, and North America, total ...

To what extent, if at all, did employee-owned (EO) firms maintain jobs for workers compared to non-EO firms in the spring 2020 Covid-19 shock to the US economy? Did EO firms shift jobs from workplaces ...

The standard New Keynesian model with staggered wage setting is shown to imply a simple dynamic relation between wage inflation and unemployment. Under some assumptions, that relation takes a form ...

This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and ...

This paper considers a firm that must issue common stock to raise cash to undertake a valuable investment opportunity. Management is assumed to know more about the firm's value than potential ...

Non-disabled, working age adults without children are required to work 20 hours per week in order to maintain eligibility for the Supplemental Nutrition Assistance Program. However, states may waive ...

This paper opens with a discussion of the types of institutions that allow markets to perform adequately. While we can identify in broad terms what these are, there is no unique mapping between ...

Using geolocation data from millions of smartphones, we estimate consumer preferences for specific retail chains across income groups and regions. We show that accounting for distance endogeneity ...