James F. Albertus

Assistant Professor of Finance

Tepper School of Business

Carnegie Mellon University

Curriculum Vitae


"Heads I win, tails you lose: Asymmetric taxes, risk taking, and innovation" with Brent Glover and Oliver Levine.

Journal of Monetary Economics. Vol. 105, pp. 24-40. 2019.

The worldwide tax system incentivized US firms to invest in projects that were riskier and more transferable-capital intensive. 

"Foreign investment of US multinationals: the effect of tax policy and agency conflicts" with Brent Glover and Oliver Levine.

Journal of Financial Economics. Vol. 144.1, pp. 298-327. 2022.

The 2017 Tax Cut and Jobs Act 1) lowered the tax rate on foreign earnings, and 2) increased the opportunity cost of capital abroad by lifting restrictions on repatriating foreign profits. With respect to foreign investment, the latter of these countervailing effects dominates. 

"Income Shifting Out of the United States by Foreign Multinational Firms."

Revision Requested, Review of Financial Studies. 2023.

"The real and financial effects of internal liquidity: Evidence from the Tax Cuts and Jobs Act" with Brent Glover and Oliver Levine.

Working paper. 2023.

"Private Equity Fund Debt: Agency Costs and Cash Flow Management" with Matthew Denes.

Working paper. 2023.

"Does Foreign Tax Arbitrage Promote Innovation?"

Working paper. 2019.

"The Direct Investment Income Puzzle."

Working paper. 2019.