## Li Liu ## Source details **Canonical URL:** [Li Liu](https://www.imf.org/en/research/researcher-cv/author/liu-li) ## Other formats - [Markdown version](/en/research/researcher-cv/author/liu-li/index.md) - [Structured JSON version](/en/research/researcher-cv/author/liu-li/index.json) - [Bundle manifest](/en/research/researcher-cv/author/liu-li/bundle-manifest.json) ## Bibliographic details - Authors: Li Liu --- ### Biography Li Liu is a senior economist in the Fiscal Affairs Department. Before joining the IMF, she was Senior Research Fellow at Oxford University Centre for Business Taxation. Her research focuses on public economics, in particular corporate taxation and finance, and development economics. Li’s research has been published in leading academic journals and cited in influential publications such as The Economist, The New York Times, The Independent, Forbes and CBS. Li is also a research fellow at the University of Oxford and ZEW in Mannheim, and an associate editor of International Tax and Public Finance. ### Profile ### Field of Expertise - International Trade - Development Economics - Public Finance ### IMF Occasional Papers, Pamphlets, and Special Issues Papers - [Canada: Taxing Business in a Changing World](http://edms.imf.org/cyberdocs/Viewdocument.asp?doc=444397&lib=REPOSITORY) - [Uganda: Issues in International Taxation](http://edms.imf.org/cyberdocs/Viewdocument.asp?doc=434355&lib=REPOSITORY) - [Kenya: International Taxation Issues in Kenya](http://edms.imf.org/cyberdocs/Viewdocument.asp?doc=442126&lib=REPOSITORY) - [Corporate Taxation in the Global Economy](https://www.imf.org/en/Publications/Policy-Papers/Issues/2019/03/08/Corporate-Taxation-in-the-Global-Economy-46650) ### IMF Publications ### IMF Books and Working Papers - [Shaping Services Trade: The Heterogeneous Effects of Withholding Taxes](https://www.imf.org/en/publications/wp/issues/2025/10/24/shaping-services-trade-the-heterogenous-effects-of-withholding-taxes-571345), Working Paper No. 2025/214 , October 24, 2025 - [Tax Expenditures in Sub-Saharan Africa](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2025/10/07/tax-expenditures-in-sub-saharan-africa-570060), Departmental Paper No 2025/006 , October 7, 2025 - [Broadening the Gains from Generative AI: The Role of Fiscal Policies](https://www.imf.org/en/publications/staff-discussion-notes/issues/2024/06/11/broadening-the-gains-from-generative-ai-the-role-of-fiscal-policies-549639), Staff Discussion Notes No. 2024/002 , June 17, 2024 - [Small Firm Growth and the VAT Threshold Evidence for the UK](https://www.imf.org/en/publications/wp/issues/2024/02/16/small-firm-growth-and-the-vat-threshold-evidence-for-the-uk-544462), Working Paper No. 2024/033 , February 16, 2024 - [International Tax Spillovers and Tangible Investment, with Implications for the Global Minimum Tax](https://www.imf.org/en/publications/wp/issues/2023/08/04/international-tax-spillovers-and-tangible-investment-with-implications-for-the-global-536796), Working Paper No. 2023/159 , August 4, 2023 - [Home or Away? Profit Shifting with Territorial Taxation](https://www.imf.org/en/publications/wp/issues/2022/09/09/home-or-away-profit-shifting-with-territorial-taxation-522743), Working Paper No. 2022/177 , September 9, 2022 - [At A Cost: The Real Effects of Thin Capitalization Rules](https://www.imf.org/en/publications/wp/issues/2021/02/05/at-a-cost-the-real-effects-of-thin-capitalization-rules-49999), Working Paper No. 2021/023 , February 5, 2021 - [Exploring Residual Profit Allocation](https://www.imf.org/en/publications/wp/issues/2020/02/28/exploring-residual-profit-allocation-48998), Working Paper No. 2020/049 , February 28, 2020 - [The Impact of Profit Shifting on Economic Activity and Tax Competition](https://www.imf.org/en/publications/wp/issues/2019/12/20/the-impact-of-profit-shifting-on-economic-activity-and-tax-competition-48741), Working Paper No. 2019/287 , December 20, 2019 - [An Assessment of Global Formula Apportionment](https://www.imf.org/en/publications/wp/issues/2019/10/11/an-assessment-of-global-formula-apportionment-48718), Working Paper No. 2019/213 , October 11, 2019 - [VAT Notches, Voluntary Registration, and Bunching: Theory and UK Evidence](https://www.imf.org/en/publications/wp/issues/2019/09/27/vat-notches-voluntary-registration-and-bunching-theory-and-uk-evidence-48669), Working Paper No. 2019/205 , September 27, 2019 - [Personal Income Tax Progressivity: Trends and Implications](https://www.imf.org/en/publications/wp/issues/2018/11/20/personal-income-tax-progressivity-trends-and-implications-46332), Working Paper No. 2018/246 , November 20, 2018 - [International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots](https://www.imf.org/en/publications/wp/issues/2018/07/23/international-corporate-tax-avoidance-a-review-of-the-channels-effect-size-and-blind-spots-45999), Working Paper No. 2018/168 , July 23, 2018 - [Are Elasticities of Taxable Income Rising?](https://www.imf.org/en/publications/wp/issues/2018/06/13/are-elasticities-of-taxable-income-rising-45925), Working Paper No. 2018/132 , June 13, 2018 - [At A Cost: the Real Effects of Transfer Pricing Regulations](https://www.imf.org/en/publications/wp/issues/2018/03/23/at-a-cost-the-real-effects-of-transfer-pricing-regulations-45734), Working Paper No. 2018/069 , March 23, 2018 - [Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK](https://www.imf.org/en/publications/wp/issues/2018/01/12/where-does-multinational-investment-go-with-territorial-taxation-evidence-from-the-uk-45559), Working Paper No. 2018/007 , January 12, 2018 - [Effectiveness of Fiscal Incentives for R&D: Quasi-Experimental Evidence](https://www.imf.org/en/publications/wp/issues/2017/03/31/effectiveness-of-fiscal-incentives-for-r-d-quasi-experimental-evidence-44786), Working Paper No. 2017/084 , March 31, 2017 ### IMF Country Reports - [Canada 2018 Article IV Staff Report](http://edms.imf.org/cyberdocs/Viewdocument.asp?doc=444396&lib=REPOSITORY) - [People’s Republic of China : Tax Policy and Employment Creation](https://www.imf.org/en/Publications/CR/Issues/2018/03/28/Peoples-Republic-of-China-Tax-Policy-and-Employment-Creation-45765) ### Other Published Materials - [Effectiveness of Fiscal Incentives for R&D : Quasi-Experimental Evidence](https://www.imf.org/en/Publications/WP/Issues/2017/03/31/Effectiveness-of-Fiscal-Incentives-for-R-D-Quasi-Experimental-Evidence-44786) - [Tackling Inequality, IMF Fiscal Monitor, October 2017 (joint with Mercedes Garcia-Escribano, Alexander Klemm, and other FAD colleagues)](https://www.imf.org/en/Publications/FM/Issues/2017/10/05/fiscal-monitor-october-2017) - [Upgrading the Tax System to Boost Productivity, IMF Fiscal Monitor, April 2017 (joint with Laura Jaramillo Mayor, João Jalles, Florian Misch, Adrian Peralta, and Mousse Sow)](http://www.imf.org/en/Publications/FM/Issues/2017/04/06/fiscal-monitor-april-2017) ### Non-IMF Publications ### Publications in Journals (Refereed) - [VAT Notches, Voluntary Registration, and Bunching: Theory and UK Evidence (with Ben Lockwood, Miguel Almunia and Eddy H. F. Tam), Review of Economics and Statistics, forthcoming](https://www.mitpressjournals.org/doi/abs/10.1162/rest_a_00884?mobileUi=0) - International Transfer Pricing and Tax Avoidance: Evidence from the linked Tax-Trade Statistics in the UK (with Tim Schmidt-Eisenlohr and Dongxian Guo), Review of Economics and Statistics, forthcoming - [Income Tax Progressivity: Trends and Implications (with Claudia Gerber, Alexander Klemm, and Victor Mylonas), Oxford Bulletin of Economics and Statistics, 82(2): 365-386, April 2020](https://onlinelibrary.wiley.com/doi/abs/10.1111/obes.12331) - [At A Cost: the Real Effects of Transfer Pricing Regulations (with Ruud de Mooij), IMF Economic Review, Volume 68, pp 268–306, March 2020](https://link.springer.com/article/10.1057/s41308-019-00105-0) - Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK, American Economic Journal: Economic Policy, Vol 12 (1), February, 2020, pp. 325-58 - [UK Accelerated Depreciation Policy in an International Context (with Andrew Harper), British Tax Review, Issue 3, 257 - 264, August 2019](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3436859) - International Effects of the U.S. Tax Reform: A View from the Front Line (with Peter Harris and Michael Keen), Canadian Tax Journal, Volume 67, Issue 1, 2019 - [International Corporate Tax Avoidance: A Review of the Channels, Magnitudes, and Blind Spots (with Sebastian Beer and Ruud De Mooij), forthcoming, Journal of Economic Surveys](https://onlinelibrary.wiley.com/doi/abs/10.1111/joes.12305) - How Effective are Fiscal Incentives in R&D-Intensive Sectors? (with Irem Guceri) American Economic Journal: Economic Policy, Vol. 11, no. 1, February 2019, (pp. 266-91) - [Income Taxes and Business Incorporation: Evidence from the Early Twentieth Century, National Tax Journal, June 2014, 67(2)](https://econpapers.repec.org/scripts/redir.pf?u=https%3A%2F%2Fwww.ntanet.org%2FNTJ%2F67%2F2%2Fntj-v67n02p387-418-income-taxation-business-incorporation.pdf;h=repec:ntj:journl:v:67:y:2014:i:2:p:387-418) - [The Elasticity of Corporate Taxable Income: New Evidence from UK Tax Records (with Michael Devereux and Simon Loretz), The American Economic Journal: Economic Policy, May 2014, 6(2)](https://www.aeaweb.org/articles?id=10.1257/pol.6.2.19) - [Temporary Increase in Annual Investment Allowance: A 2013 Finance Act Note (with Andrew Harper), British Tax Review, October 2013, Issue 4](https://ideas.repec.org/p/btx/wpaper/1312.html) - [Measuring the Burden of the Corporate Income Tax under Imperfect Competition (with Rosanne Altshuler), National Tax Journal, March 2013, 66 (1), 215–238](http://ntj.tax.org/wwtax/ntjrec.nsf/175d710dffc186a385256a31007cb40f/785c5ab0cac6167985257b35007320ca/$FILE/A08_Altshuler.pdf) ### Publications in Books and Conference Volumes - [Formulary Methods in International Taxation (with Ruud de Mooij and Shafik Hebous), book chapter in Ontwerp voor een Beter Belastingstelsel (Design for a Better Tax System) (in Dutch), December 2019](https://esb.nu/events/overig/20056607/boek-ontwerp-voor-een-beter-belastingstelsel) --- _Source: https://www.imf.org/en/research/researcher-cv/author/liu-li_