Browsing Tag

global

The missing profits of nations

Between 1985 and 2018, the global average statutory corporate tax rate fell by more than half. This column uses new macroeconomic data to argue that profit shifting is a key driver of this decline. Close to 40% of multinational profits were…

Internal and external balance

The global economy is an economic system in which any country’s domestic economy is inextricably linked to other economies through the balance of payments mechanisms. The ability to place events within their global context is consequently…

Australia cuts as global growth slows

My thesis for the global economy right now is that global nominal GDP growth will continue to slow, leading to more policy accommodation, with the outliers converging toward zero. The question mark in this is the Federal Reserve. Generally,…

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