About the Researcher(s)/Author(s)

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Juan Carlos Suárez Serrato is a research associate in the NBER’s Public Economics Program. He is an associate professor of economics at Duke University and a coeditor of the Journal of Public Economics.

Suárez Serrato’s research studies how taxes and government spending affect economic growth and welfare. His work bridges insights from public finance with other fields including labor, trade, development, industrial organization, and urban economics.

His studies of the US economy examine how federal spending affects local economic growth, welfare, and inequality; who benefits from state corporate tax cuts; the aggregate consequences of disparate state tax systems; how subsidies for municipal bonds affect the borrowing cost of local governments; and how tax incentives for investment affect employment and worker earnings. His research on the Chinese economy studies the efficacy of meritocracy in the selection of political leaders, whether firms respond to tax incentives for R&D by manipulating expenses, and how corporate tax incentives affect investment and firm growth. His research on international taxation studies which measures are effective at curbing profit shifting to tax havens, and how these policies affect domestic economic activity.

Suárez Serrato received a PhD in economics from the University of California, Berkeley and a BA in economics and mathematics from Trinity University. He was previously a postdoctoral fellow at the Stanford Institute for Economic Policy Research.

Suárez Serrato was born in Mexico and immigrated to San Antonio, Texas. He lives in Durham, North Carolina, with his wife and son.

Footnotes

1. “What is BEPS?” Organisation for Economic Co-operation and Development (OECD), https://www.oecd.org/tax/beps/about/   Go to ⤴︎
3. “How Elastic Is the Demand for Tax Havens? Evidence from the US Possessions Corporation Tax Credit,” Garrett DG, Suárez Serrato JC. NBER Working Paper 25516, January 2019.   Go to ⤴︎
4. “Unintended Consequences of Eliminating Tax Havens,” Suárez Serrato JC. NBER Working Paper 24850, revised December 2019.   Go to ⤴︎
5. “Do Taxes Matter? Lessons from the 1980s,” Slemrod J. NBER Working Paper 4008, March 1992, and American Economic Review 82(2), April 1992, pp. 250–256.   Go to ⤴︎
6. While Puerto Rico is a US possession, affiliates in Puerto Rico are treated as foreign entities for international tax purposes. Prior to the Tax Cuts and Jobs Act of 2017, US multinationals could defer the repatriation of foreign income.   Go to ⤴︎
7. “The Effect of Taxes on Investment and Income Shifting to Puerto Rico,” Grubert H, Slemrod J. NBER Working Paper 4869, September 1994, and Review of Economics and Statistics 80(3), August 1998, pp. 365–373.   Go to ⤴︎
8. “Expectations and Expatriations: Tracing the Causes and Consequences of Corporate Inversions,” Desai MA, Hines JR. NBER Working Paper 9057, July 2002, and National Tax Journal 55(3), September 2002, pp. 409–440.   Go to ⤴︎
9. Desai and Hines, ibid.; “Investor Responses to Dividends Received Deductions: Rewarding Multinational Tax Avoidance?” Bradley S. Working Paper, LeBow College of Business, Drexel University, August 2012; “What Does Tax Aggressiveness Signal? Evidence from Stock Price Reactions to News about Tax Shelter Involvement,” Hanlon M, Slemrod J. Journal of Public Economics 93(1–2), February 2009, pp. 126–141; and “The Deterrence Effect of Whistleblowing — An Event Study of Leaked Customer Information from Banks in Tax Havens,” Johannesen N, Stolper T. Working Paper, Max Planck Institute for Tax Law and Public Finance, revised November 2017.   Go to ⤴︎
10. While much of the literature examines the investment effects of corporate tax changes, a novel contribution of my paper is that it directly examines the effects on firm-level labor demand.   Go to ⤴︎
11. “Local Multipliers,” Moretti E. American Economic Review 100(2), May 2010, pp. 373–377. Go to ⤴︎

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