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The CEPII Newsletter       
May 2023        

The French edition is slightly different as it also includes material available in French only  

Europe Monnaie & Finance Trade & Globalization Migrations Economic Policy Emerging Economies Competitivness & Growth Environment & Natural Ressources

The Most Complex Multinationals Engage in Tax Avoidance

Tax avoidance by multinationals made headlines in 2021 with the international agreement on reforming the taxation of multinational enterprises. While the importance of the issue is no longer debated, little is known about which firms are most likely to engage in tax avoidance. It turns out that the complexity of the ownership structure of the subsidiaries of a multinational firm – be it a flat structure in which headquarters directly owns its subsidiaries or a more complex organization involving chains of ownership – plays an important role in these schemes: only sufficiently complex multinationals shift profits from their high-tax subsidiaries to those located in low-tax countries. Manon François, Vincent Vicard


CEPII workshop "Trade Policies"

Amidst rising protectionist initiatives, the CEPII is commemorating its 45th anniversary by organising a workshop on trade policies. International researchers will hold six presentations on 10 July (afternoon) and on 11 July 2023 (morning) on trade disputes, rules of origin, protectionist preferences of French and American citizens, trade distortions in the interwar period and on the trade integration of the African continent.
The workshop's programme is available online.


  Cultural Transmission and Political Attitudes: Explaining Differences between Natives and Immigrants in Western Europe

This CEPII Working Paper studies the role of horizontal cultural transmission on immigrants' political assimilation in Western Europe. The authors analyze five key political issues: redistribution, gay rights, EU integration, immigration policy and trust in political institutions. Controlling for individual socio-economic characteristics, the paper argues that immigrants show identical support for redistribution as natives, display more conservative attitudes towards gay rights and more liberal views on the other three issues. Our results strongly point towards the transmission of cultural values from natives to immigrants on matters of immigration policy and political trust, whereas attitudes towards redistribution seem immune to cultural influences at destination.  Jérôme Gonnot, Federica lo Polito


  International Economics:
August 2023 issue in progress

International Economics is a peer-reviewed journal devoted to the publication of research in the area of applied international economics. The journal especially welcomes empirical contributions that include, but are not limited to, topics in international trade, commercial policy, open economy macroeconomics, international finance, exchange rates, financial and monetary policies, economic development, migration and factor movements.
The August 2023 issue is in progress but contains articles that are final and fully citable.


ISSN: 1255-7072
Editorial Director : Antoine Bouët
Managing Editor : Evgenia Korotkova