BAT Signals from Asset Markets: Estimating the U.S. Dollar Response to a Destination-Based Cash-Flow Tax
In early 2017, there was substantial discussion about changing the U.S. corporate tax system to a destination-based cash-flow tax (DBCFT). The DBCFT proposal, also often referred to as a border-adjusted tax (BAT), would exclude exports from taxable revenues and exclude imports from allowable deductions.
This note provides an update on the health of EME corporates and examines the extent to which they are vulnerable to risks, including those that might be associated with monetary policy normalization in advanced economies.
In this note we present a Global Conditions Index (GCI), a real-time measure of the health of the global economy constructed using a small set of world economic variables.
This note examines how a major fall in real estate prices could affect banks’ performances.
Distributional Consequences of Trade for U.S. Consumers: Estimating Group-Specific Import Price Inflation
This note highlights the results of our project constructing import price indexes across different U.S. income deciles over the years 1998 to 2014.
In this note, we compare the present situation to that prevailing in the mid-2000s, when concerns about the NIIP and the current account were at the forefront, and we examine the prospects for U.S. external sustainability going forward.
In this note, we use data on stock prices and betting market odds of Brexit for the period leading to and including the vote to estimate the magnitude of markets-implied costs of Brexit for U.S. banks.
In this note, we identify a global component of equity option-implied volatilities and address two questions: What are its fundamental drivers? And, given these drivers, are recent levels of volatility unexpectedly low?
This note considers the differential impacts of economic growth and exchange rate movements on the stock returns of U.S. firms ranked by tradability.
Disclaimer: IFDP Notes are articles in which Board economists offer their own views and present analysis on a range of topics in economics and finance. These articles are shorter and less technically oriented than IFDP Working Papers.