NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Jennifer Bruner

Bureau of Economic Analysis
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NBER Working Papers and Publications

November 2018Multinational Profit Shifting and Measures throughout Economic Accounts
with Dylan G. Rassier, Kim J. Ruhl
in The Challenges of Globalization in the Measurement of National Accounts, Nadim Ahmad, Brent Moulton, J. David Richardson, and Peter van de Ven, editors
August 2018Multinational Profit Shifting and Measures throughout Economic Accounts
with Dylan G. Rassier, Kim J. Ruhl: w24915
Profit shifting to low-tax countries imposes challenges for the treatment of multinational enterprises in economic accounts. Using adjustments for profit shifting calculated in Guvenen et al. (2017) under an alternative measurement methodology, this paper empirically demonstrates how the effects of profit shifting cascade throughout a fully articulated set of economic accounts for the United States in 2014. We find a 1.5 percent and 3.5 percent increase in measured U.S. gross domestic product and operating surplus, respectively, and a 33.5 percent decrease in measured income receivable from the rest of world. As a result of offsetting effects, measured U.S. gross national saving decreases by 0.8 percent, and national borrowing increases by 6.9 percent. There are also potentially signif...
 
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