1 option
Investment Responses to Trade Liberalization: Evidence from U.S. Industries and Plants / Justin R. Pierce, Peter K. Schott.
- Format:
- Book
- Author/Creator:
- Pierce, Justin R.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24071.
- NBER working paper series no. w24071
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Investment Responses to Trade Liberalization
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- This paper examines the effect of a change in U.S. trade policy on the domestic investment of U.S. manufacturers. Using a difference-in-differences identification strategy, we find that industries more exposed to reductions in import tariff uncertainty exhibit relative declines in investment after the change in trade policy. Within industries, we find that this relationship is concentrated among establishments with low initial levels of labor productivity, capital intensity and skill intensity. Plants with high initial levels of skill intensity, by contrast, exhibit relative increases in investment with exposure. We also find evidence that establishments' investment activity is smoother following the policy change.
- Notes:
- Print version record
- November 2017.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.