How Low Business Tax Rates Attract Multinational Headquarters: Municipality-Level Evidence from Germany



Figure 1: Histogram of number of foreign MNE headquarters in Germany

86 % Zero Observations


Percent of municipalities
0        20       40       60       80


Mean = 0.8

Std. Dev. = 11.08

Max = 615

-l--------------1-----θ-------G-----θ-θ-----rə

0                  200                 400                 600

Number of foreign MNE headquarters in a municipality



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