Research

Selected work in progress:

• Taxation of multinational profits: BEPS, GMT, and Side-by-Side (with Tomáš Boukal, Niels Johannesen and Miroslav Palanský)
• GILTI of Underinvestment? The Impact of the U.S. Reform’s Global Minimum Tax on Investment (with Zahrah Abdulrauf, Matěj Bajgar, Benjamin Glass, Jane Zhiyan Song)

Selected recent publications:

• Fiscal Consequences of Corporate Tax Avoidance, with Katarzyna Bilicka and Evgeniya Dubinina. Journal of Public Economics, 2026.

• Did the Tax Cuts and Jobs Act Reduce Profit Shifting by US Multinational Companies? with Javier Garcia-Bernardo and Gabriel Zucman. IMF Economic Review, 2026. [United States Senate Budget Committee hearing]

• Decomposing the revenue implications of the global minimum tax, with Tomáš Boukal and Miroslav Palanský. International Tax and Public Finance, 2026.

• Effects of Corporate Transparency on Tax Avoidance: Evidence from Country-by-Country Reporting, with Tijmen Tuinsma, Kristof De Witte, Miroslav Palanský and Vítězslav Titl. International Tax and Public Finance, 2025.

• Profit Shifting of Multinational Corporations Worldwide, with Javier Garcia-Bernardo, World Development, 2024, 177, 106527. [pdf] [The Economist] [Financial Times]

• Effective Tax Rates of Multinational Corporations: Country-Level Estimates, with Javier Garcia-Bernardo and Thomas Tørsløv. PLoS ONE, 2023, 18(11): e0293552. [pdf]

• Decomposing Multinational Corporations’ Declining Effective Tax Rates, with Javier Garcia-Bernardo and Thomas Tørsløv. IMF Economic Review, 2022, 70(2), 338–381. [pdf]

Selected recent working papers:

• The Elasticity of Corporate Taxable Income Across Countries, with Claudio A. Agostini Zareh Asatryan Laurent Bach Govindadeva Bernier Marinho Bertanha Katarzyna Bilicka Anne Brockmeyer Jaroslav Bukovina Guillermo Falcone Pablo Garriga Yuxuan He Evangelos Koumanakos Tomas Lichard Tom´as Martins Jan Palguta Elena Patel Jo˜ao Pereira dos Santos Louis Perrault Thomas Schwab Nathan Seegert Oliver Skult´ety Kristina Strohmaier Maximilian Todtenhaupt Guillermo Vuletin Branislav Zudel. 2026 NBER working paper.

• Tax Compliance of Multinationals and Industry Concentration in the European Union, with Matěj Bajgar and Tijmen Tuinsma. 2025 EU Tax Observatory working paper

• The Indirect Effects of Corporate Tax Avoidance Exacerbate Cross-country Inequality, with Javier Garcia-Bernardo, Daniel Haberly, Miroslav Palanský and Valeria Secchini. 2022 UNU-WIDER working paper.

• Hide-seek-hide? The effects of financial secrecy on cross-border financial assets, with Tereza Palanská and Miroslav Palanský. 2022 UNU-WIDER working paper.

Other recent publications:

• The Excess Profits and their Tax Revenue Potential, with Evgeniya Dubinina and Javier Garcia-Bernardo. Empirica, forthcoming. [Der Spiegel]
  
  
• The Long Way to Tax Transparency: Lessons from the Early Publishers of Country-by-Country Reports, with Sarah Godar, Giulia Aliprandi, Tommaso Faccio and Katia Toledo. International Tax and Public Finance, 2024. [pdf]

• Corporate Effective Tax Rates for Research and Policy. Public Finance Review, 2023, 51(2), 171-205. [pdf]

• Shallow and Uneven Progress towards Global Financial Transparency: Evidence from the Financial Secrecy Index, with Miroslav Palanský and Dariusz Wójcik. Geoforum, 2023, 141, 103728. [pdf]

• Incremental Improvement: Evaluating the Emancipatory Impact of Public Country-by-Country Reporting, with Franki Hackett. Critical Perspectives on Accounting, 2023, 102525. [pdf]

• A Practical Proposal to End Corporate Tax Abuse: METR, a Minimum Effective Tax Rate for Multinationals, with Alex Cobham, Tommaso Faccio, Javier Garcia-Bernardo, Jeffery Kadet and Sol Picciotto. Global Policy, 2022, 13(1), 18–33. [pdf]

• Is Panama Really Your Tax Haven? Secrecy Jurisdictions and the Countries They Harm, with Markus Meinzer and Miroslav Palanský. Regulation & Governance, 2022, 16(3), 673–704. [pdf]

• Multinational Corporations and Tax Havens: Evidence from Country-by-Country Reporting, with Javier Garcia-Bernardo and Thomas Tørsløv. International Tax and Public Finance, 28(6), 1519–1561. [pdf]

• Tax Treaties Worldwide: Estimating Elasticities and Revenue Foregone, with Jan Láznička and Miroslav Palanský. Review of International Economics, 2021, 29(2), 359–401. [pdf]

• Estimating the Scale of Profit Shifting and Tax Revenue Losses Related to Foreign Direct Investment, with Miroslav Palanský. International Tax and Public Finance, 2019, 26(5), 1048-1103. [pdf]

Book:

• Estimating illicit financial flows: A critical guide to the data, methodologies and findings, with Alex Cobham. Oxford University Press, 2020. [pdf]