Date of Award
Master of Science (MS)
Economics and Finance
This paper studies the impact of immigration policy on financial markets. I estimate the cumulative abnormal returns surrounding two events the effective start date of the Immigration Act of 1990 and the implementation of the Temporary Protected Status (TPS) of Nicaragua and Honduras in 1999. Focusing on agriculture, construction, and manufacturing firms, I find that the CARs surrounding the events are indeed positive and significant, suggesting that the market anticipated growth among industries that are likely to hire Central American immigrants.
Baker, Jesse, "The Impact of Immigration on Financial Markets" (2019). All Graduate Plan B and other Reports. 1364.
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