The origins of the multinational premium: Managerial talent, firm risk, and corporate taxation
Multinational firms tend to earn higher stock returns than purely domestic firms, raising questions about what drives their differential exposure to aggregate risk. This column
Dividend tax reforms: Why design shapes revenue and measured inequality
Governments increasingly look to capital income for both revenue and redistribution. This column compares two dividend tax reforms in Israel – a permanent rate increase
Trump’s tariffs as fiscal folly
In 2025, the US government underwent a large fiscal switch, with Congress enacting large income tax cuts and the second Trump administration putting new tariffs
