Differences in Stock Returns of U.S. Firms with High and Low Tradability

Mary Tian
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Mary Tian: https://www.federalreserve.gov/econres/mary-tian.htm

No 2018-01-12, IFDP Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In this note, I summarize the methodology and findings of my research paper and draw out the policy implications. The effects of GDP growth appear to matter more but the link between exchange rates and stock returns is also economically and statistically significant. The policy implications are that the spread in returns between U.S. firms with high and low tradability could provide a hedge against recessions. At the same time, stock returns are also informative about future exchange rate movements.

Date: 2018-01-12
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgin:2018-01-12

DOI: 10.17016/2573-2129.39

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