A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit quasi-experimental variation in exposure to TPU arising from Congressional votes to revoke China’s preferential tariff treatment between 1990 and 2001. A long-short portfolio designed to isolate exposure to TPU earns a risk-adjusted return of 3.6–6.2% per year. This effect is larger in sectors less protected from globalization, and more reliant on inputs from China. Industries more exposed to trade policy uncertainty also had a larger drop in stock prices when the uncertainty...
This paper empirically explores imports’ adjustment to reductions in trade policy uncertainty (TPU) ...
This paper examines the interdependence of China’s policy uncertainty, the global oil market and sto...
We estimate how a rise in uncertainty about future tariff rates impacts firm decisions to enter into...
We examine how trade policy uncertainty is reflected in stock returns. Our identification strategy e...
ABSTRACT: We assess the impact of U.S. trade policy uncertainty (TPU) toward China in a tractable ge...
Trade policy uncertainty has skyrocketed in recent years with rising trade tensions between the US a...
The objective of this paper is to analyze the impact of economic policy uncertainty (EPU) in China, ...
Doctor of PhilosophyDepartment of EconomicsPeri A Da Silva JrLei Lei ShenThis dissertation consists ...
We examine the interaction of economic and policy uncertainty in a dynamic, heterogeneous firms mod...
This study examines the multiscale links between economic policy uncertainty (EPU) and sectoral stoc...
We study the multifaceted effects of trade policy shocks on financial markets using a structural vec...
Policy commitment and credibility are important for inducing agents to make costly, irreversible inv...
We develop a new method of quantifying the impact of policy announcements on investment rates that m...
This paper explores the impact of trade policy uncertainty (TPU) shock on China’s total factor produ...
Since the subprime crisis, the U.S. has begun to adjust its international trade policies due to the ...
This paper empirically explores imports’ adjustment to reductions in trade policy uncertainty (TPU) ...
This paper examines the interdependence of China’s policy uncertainty, the global oil market and sto...
We estimate how a rise in uncertainty about future tariff rates impacts firm decisions to enter into...
We examine how trade policy uncertainty is reflected in stock returns. Our identification strategy e...
ABSTRACT: We assess the impact of U.S. trade policy uncertainty (TPU) toward China in a tractable ge...
Trade policy uncertainty has skyrocketed in recent years with rising trade tensions between the US a...
The objective of this paper is to analyze the impact of economic policy uncertainty (EPU) in China, ...
Doctor of PhilosophyDepartment of EconomicsPeri A Da Silva JrLei Lei ShenThis dissertation consists ...
We examine the interaction of economic and policy uncertainty in a dynamic, heterogeneous firms mod...
This study examines the multiscale links between economic policy uncertainty (EPU) and sectoral stoc...
We study the multifaceted effects of trade policy shocks on financial markets using a structural vec...
Policy commitment and credibility are important for inducing agents to make costly, irreversible inv...
We develop a new method of quantifying the impact of policy announcements on investment rates that m...
This paper explores the impact of trade policy uncertainty (TPU) shock on China’s total factor produ...
Since the subprime crisis, the U.S. has begun to adjust its international trade policies due to the ...
This paper empirically explores imports’ adjustment to reductions in trade policy uncertainty (TPU) ...
This paper examines the interdependence of China’s policy uncertainty, the global oil market and sto...
We estimate how a rise in uncertainty about future tariff rates impacts firm decisions to enter into...