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Working Paper No. 1539

Tax-Motivated Firm Splitting

How do corporate tax systems shape the boundaries of the firm? This paper shows that nonlinear corporate income taxation can distort firms’ organizational structures by inducing tax-motivated firm spl…
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Working Paper No. 1482

The Working Capital Channel

Firms relying on working capital raise prices following monetary tightening, and this paper demonstrates that the working capital channel plays a key role in partial and general equilibrium inflation…
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