Plausibly Exogenous [1918] - Internal Markets (05/04/2025)

LHS Variable
Internal market formation

RHS Variable
Benefits to diversification

Source of Exogenous Variation
2006 German real estate transfer tax (RETT) reform, which led to higher RETT rates but retained the exemption from RETT for corporate restructurings

- Sohl and Folta (2025), “Do Firms Proactively Build Internal Markets for Redeployment? Evidence from a Natural Experiment”