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The Effect of the U.S.-China Trade War on U.S. Investment

Amiti, Mary - 2020

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...

Persistent link: https://www.econbiz.de/10012481697

The Impact of the 2018 Trade War on U.S. Prices and Welfare

Amiti, Mary - 2019

This paper explores the impacts of the Trump administration's trade policy on prices and welfare. Over the course of 2018, the U.S. experienced substantial increases in the prices of intermediates and final goods, dramatic changes to its supply-chain network, reductions in availability of...

Persistent link: https://www.econbiz.de/10012479624

Trade Protection, Stock-Market Returns, and Welfare

Amiti, Mary; Kong, Sang Hoon; Weinstein, David E. - National Bureau of Economic Research - 2021

We show that the specific factors model can be used to derive a rigorous link between movements in stock prices and productivity, wages, employment, output, and welfare. We also prove that the commonly used measure of the effective rate of protection equals the dual measure of revenue TFP,...

Persistent link: https://www.econbiz.de/10012533307

Foreign Direct Investment and Keiretsu : Rethinking U.S. and Japanese Policy

Weinstein, David E. - 1996

Japan suggests that foreign firms sell five to six times more in Japan than is commonly believed. Previous studies severely … underestimated the stock of FDI in Japan due to poor data. Second, after finding that even after adjusting for various factors the … level of FDI in Japan is still low, the paper explores explanations for this phenomenon. A second main conclusion is that …

Persistent link: https://www.econbiz.de/10012473233

Do Endowments Predict the Location of Production? Evidence from National and International Data

Bernstein, Jeffrey R. - 1998

Examining the relationship between factor endowments and production patterns using international and Japanese regional data, we provide the first empirical confirmation of Ethier's correlation approach to the Rybczynski theorem. Moreover, we find evidence of substantial production indeterminacy....

Persistent link: https://www.econbiz.de/10012471998

Who's Paying for the US Tariffs? A Longer-Term Perspective

Amiti, Mary - 2020

Using data from 2018, a number of studies have found that recent U.S tariffs have been passed on entirely to U.S. importers and consumers. These results are surprising given that trade theory has long stressed that tariffs applied by a large country should drive down foreign prices. Using...

Persistent link: https://www.econbiz.de/10012479134

Globalization, Markups and U.S. Welfare

Feenstra, Robert C. - 2010

This paper is the first attempt to structurally estimate the impact of globalization on markups, and the effect of changing markups on welfare, in a monopolistic competition model. To achieve this, we work with a class of preferences that allow for endogenous markups and firm entry and exit that...

Persistent link: https://www.econbiz.de/10012462906

What Drives U.S. Import Price Inflation?

Amiti, Mary; Itskhoki, Oleg; Weinstein, David E. - National Bureau of Economic Research - 2024

Inflation has risen sharply in many countries since the COVID-19 outbreak. Economists have debated the underlying causes. In this paper, we examine the drivers of the global import price inflation, which peaked at approximately 11 percent a year. We find that a common global component closely...

Persistent link: https://www.econbiz.de/10014486225

Market Size, Linkages, and Productivity : A Study of Japanese Regions

Davis, Donald R. - 2001

for forty regions of Japan. Our results identify important effects of a region's own size, as well as cost linkages …-Arrow-Romer externalities do not appear to be robust in our data. Landlocked status does not matter for productivity of regions in Japan. The … differences. A simple counterfactual shows that if economic activity were spread evenly over the forty regions of Japan, aggregate …

Persistent link: https://www.econbiz.de/10012470200

Bones, Bombs and Break Points : The Geography of Economic Activity

Davis, Donald R. - 2001

returns, random growth, and locational fundamentals. To do so, we examine the distribution of regional population in Japan …

Persistent link: https://www.econbiz.de/10012470201