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Tariff Uncertainty and Cost of Debt: Evidence from United States-China Permanent Normal Trade Relations

We examine the causal effect of tariff uncertainty on firms' cost of debt. Our tests exploit a unique trade policy that reduces tariff uncertainty on Chinese imports without …

yuxi-wang
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Tariff Uncertainty and Firm Innovation: Evidence from the US-China Permanent Normal Trade Relation

We examine the effect of the tariff uncertainty associated with Chinese imports on U.S. firm innovation. Our test exploits the U.S. conferral of Permanent Normal Trade Relations …

yuxi-wang
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Is it Who You Know or What You Know? Evidence from IPO Allocations and Mutual Fund Performance

Mutual fund managers with degrees from elite universities tend to outperform their counterparts from less elite universities. We show that the better performance of elite graduates …

yuxi-wang
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