Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations

(w/ C. F. Foley and K. J. Forbes) Review of Financial Studies 21:6 (November 2008), 2857-2888.

This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. 

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Discussion of "Saving and Cohabitation: The Economic Consequences of Living with One’s Parents in Italy and the Netherlands"

by R. Alessi, A. Brugiavini and G. Weber in NBER International Seminar on Macroeconomics, 2004.  

The Alessi, Brugiavini and Weber (ABW) paper provides an illuminating introduction to the consequences of income shares for savings decisions within composite households.

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The Divergence Between Book Income and Tax Income

in J. Poterba (ed.) Tax Policy and the Economy 17 (Cambridge, MA: MIT Press, 2003), 169-206. This paper is a revision of NBER Working Paper 8866, entitled "The Corporate Profit Base, Tax Sheltering Activity, and the Changing Nature of Employee Compensation."

This paper examines the evolution of the corporate profit base and the relationship between book income and tax income for U.S. corporations over last two decades. 

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