| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27114 |
| 来源ID | Working Paper 27114 |
| The Effect of the U.S.-China Trade War on U.S. Investment | |
| Mary Amiti; Sang Hoon Kong; David Weinstein | |
| 发表日期 | 2020-05-11 |
| 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 | Macroeconomics ; Consumption and Investment ; International Economics ; Trade |
| URL | https://www.nber.org/papers/w27114 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584787 |
| 推荐引用方式 GB/T 7714 | Mary Amiti,Sang Hoon Kong,David Weinstein. The Effect of the U.S.-China Trade War on U.S. Investment. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27114.pdf（547KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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