Calculations are too complex to cover in this forum. See:
"Short Circuit Performance of Metallic shields and Sheaths of Insulated Cable (Second Edition)", ICEA Publication P-45-482, 1979
Siemens Power Cables and their Application, 1990
"Rating of Conductors For Short Duration Currents", V.T. Morgan, Proc. IEE, Vol. 118, No. 314, March/April 1971.
"The Short-Circuit Rating of Thin Metal Tape Cable Shields", R.C. Mildner and others, IEEE Transactions on Power Apparatus and Systems, Vol. PAS-87, No. 3, March 1968, pp. 749-759.
I'll have to disagree with KJvR about the second function. For single core cables, with shields grounded at both ends, increasing the thickness of the tape will decrease the resistance and increase induced shield currents and losses, causing more heating and lower current carrying capacity.