Seriously, less taxes? Tax reform's effects over labor supply

Using a matching and a difference in differences approach we analyzed the impact of a payroll costs reduction implemented through a tax reform in Colombia on worked hours and hourly income -- Existing studies have found mixed results, while increases in wages are commonly found, the results for employment and worked hours effects are a source of debate with no consensus on sight -- However, in line with earlier revisions of literature, we concluded that the effect of payroll costs reductions is positive and significant on both, worked hours and income -- In this paper, using socioeconomic data from Colombia we found that those individuals a effected by a payroll cost reduction between 2012-2014 exhibited significant increases in both hours and income compared to similar individuals una effected by this framework

The Impact of Expropriations on the Stock Prices of the Parent Companies: Sell on the rumor, buy on the news?

We measure the impact of warnings of expropriation and of forced divestments of pri- vate property on the stock prices of the parent company. We use a unique database of 116 events in 12 countries from 2005 to 2013. Our results show signi cant negative effects on the stock prices of different kinds of warnings; the largest effect is when the warning takes the form of a transitory permit revocation. In the case of forced divestments, we nd a signi cant negative impact when there is a permanent revocation of a permit. However, nationalizations seem to generate a positive market reaction.