Cash-Flow Taxes in an International Setting
研究了跨国公司在两国生产和销售时，不同地点征收的现金流税对行为的影响，发现来源地税会扭曲生产和消费，而目的地税不扭曲但只由本国居民承担。
We model the effects of cash-flow taxes, differing according to the location of the tax, on the behavior of a multinational producing and selling in two countries with three sources of economic rent: a fixed basic-production factor (located with initial production), mobile managerial skill, and a fixed final production factor (located with consumption). In general, governments face trade-offs in choosing between alternative taxes. A source-based cash-flow tax creates welfare-impairing production and consumption distortions, but falls partially on firm owners who may be nonresident. By contrast, a destination-based cash-flow tax does not distort behavior, but falls only on domestic residents.