How big are strategic spillovers from corporate tax competition?
研究发现，一国税率对其他国家减税的反应程度仅为共识估计的三分之一：外国税率每降低1个百分点，本国税率仅降低0.23个百分点。该研究基于76个国家359次税改数据，利用双边外国投资定义国家间关联性，为政策制定者评估税收竞争影响提供了新视角。
Abstract Strategic spillovers happen when one country's tax rate responds to tax cuts in other countries. My estimate of the size of strategic spillovers from corporate tax competition is one‐third of the size of consensus estimates. A one percentage point cut in the foreign tax rate results in a 0.23 percentage point cut in the home tax rate. I use two novel identification strategies. First, I use bilateral foreign investment to define how one country matters to another. Second, I use only tax reforms—359 reforms across 76 countries. These identification strategies are derived from a model of corporate tax competition.