| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14691 |
| DP14691 The Effect of the U.S.-China Trade War on U.S. Investment | |
| Mary Amiti; Sang Hoon Kong; David Weinstein | |
| 发表日期 | 2020-05-01 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We develop a new method of quantifying the impact of policy announcements on investment rates that makes use of stock market data. By estimating the effect of U.S.-China tariff announcements on aggregate returns and the differential returns of firms exposed to China, we identify their effect on treated and untreated firms. We show theoretically and empirically that estimates of policy-induced stock-market declines imply lower returns to capital, which lowers investment rates. We estimate that the tariff actions through 2018 and 2019 will lower the investment growth rate of listed U.S. companies by 1.9 percentage points by the end of 2020. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Protection Event studies Adjustment costs |
| URL | https://cepr.org/publications/dp14691 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543608 |
| 推荐引用方式 GB/T 7714 | Mary Amiti,Sang Hoon Kong,David Weinstein. DP14691 The Effect of the U.S.-China Trade War on U.S. Investment. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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