Working Papers

Many irreversible long-run capital investments entail opportunities for managers to respond flexibly to changes in the economic environment. However, common levelized cost measures used to guide decision-making, such as the levelized cost of electricity, implicitly...

The fabrication and manufacturing of industrial commodities such as iron, glass and cement is carbon-intensive. A major reason capture of carbon dioxide from flue gases of industrial processes has not been widely adopted as a...

This study investigates the use of a cost sharing arrangement (CSA) by a multinational corporation (MNC) to shift the income attributable to valuable intellectual property (IP) to low-tax foreign jurisdictions. Using a strategic tax compliance...

A Health Savings Account (HSA) is a tax-advantaged savings account available only to households with high-deductible health insurance. This paper provides initial answers to two questions related to HSAs: 1) How should a household determine...

We study whether innovation box tax incentives, which reduce tax rates on innovation-related income, are associated with tax-motivated income shifting and local investment in the countries that implement these regimes. Using a matched sample...

We propose generalized random forests, a method for non-parametric statistical estimation based on random forests (Breiman, 2001) that can be used to fit any quantity of interest identified as the solution to a set of...

I evaluate the role of accrual accounting in improving firms’ production decisions and resource allocation across firms. I introduce both cash flow and accounting earnings as imperfect measures of performance into a general equilibrium model...

Can common empirical tests reliably identify tax avoidance? This is an important question because our understanding of the determinants of tax avoidance largely depends on results generated using such tests. We address this question...

Racial segregation between American workplaces is greater today than it was a generation ago. This increase has happened alongside the declines in within-establishment occupational segregation on which most prior research has focused. We examine more...