Income Shifting out of the United States by Foreign Multinational Firms
研究发现外国跨国公司出于避税动机将利润从美国转移出去，主要通过转让定价方式，但转移规模不大；当外国税收政策抑制利润转移时，这些子公司的投资和就业会下降。
Abstract I find that foreign multinational firms engage in tax-motivated income shifting out of the United States. The analysis uses novel data on foreign-owned U.S. subsidiaries as well as variation in foreign countries’ tax rates and controlled foreign corporation rules. Foreign multinational firms primarily rely on tax-motivated transfer pricing to shift income out of the United States, and the aggregate amount of shifted income is modest. When foreign tax policy changes inhibit income shifting, foreign-owned U.S. subsidiaries’ investment and employment fall. The results indicate that the U.S. economy has limited exposure to tax policies set abroad through foreign direct investment in the United States.