Working Papers

Intellectual Property Boxes and the Paradox of Price Discrimination

| 15 May 2017
Fiscal, Working Papers | Tags: Corporate Taxes, Innovation, Patent Boxes, Tax Competition, Tax Expenditures
This paper considers the methods by which some existing laws and proposals offer different tax rates to different types of capital, a scheme variously known as a patent box, innovation box, or intellectual property box (IP box). It presents a model of international tax competition—what ... continue reading

The Effects of Exporting on Labour Productivity: Evidence from German Firms

| 24 March 2017
Trade, Working Papers | Tags: Employment, Productivity, Services Trade
We revisit the "self-selection vs. learning-by-exporting (LBE)" debate with new evidence on a large panel of German firms of all economic sectors up to the 3-digit NACE level, between 1993-2014, and shed new light on the channels that foster export-induced productivity gains. ... continue reading

Impact of Linking into Global Value Chains on Indian Employment

| 11 January 2017
Trade, Working Papers | Tags: Employment, Global Value Chains, Services Trade
This study examines the industry-level impact of linking into GVCs for the Indian labour market, spanning the period 1995-2011. The analysis includes manufacturing, services, agriculture and allied activities. ... continue reading

Monetary Policy According to HANK

, and | 10 March 2016
Monetary, Working Papers | Tags: Inequality, Interest Rates
We revisit the transmission mechanism of monetary policy for household consumption in a Heterogeneous Agent New Keynesian (HANK) model. The model yields empirically realistic distributions of household wealth and marginal propensities to consume because of two key features: multiple assets with different degrees of liquidity ... continue reading

The Transmission of Monetary Policy through Redistributions and Durable Purchases

and | 19 January 2016
Monetary, Working Papers | Tags: Inequality, Lump-Sum Transfers, Sector Bias
This paper studies a redistribution channel for the transmission of monetary policy. Using a tractable OLG setting ... continue reading