My friend Morgan Smith wrote this note about the Rio Grande in July 2024. Learn more about Morgan here , here and here .
J.A.M. v. USA "The Court holds that Oscar is entitled to a much lower, but still notable award of $175,000 because he was somewhat older at the time of the incident, was detained for about half...
Path2Papers, July 17, 2024 " What are the policy changes the Biden administration is implementing regarding temporary work visas? On June 18, 2024, the Biden administration announced a policy...
DOJ, July 18, 2024 "The Justice Department has filed a lawsuit against Southwest Key Programs Inc. (Southwest Key), a Texas-based nonprofit that provides housing to unaccompanied children who are...
Jeanne Kuang, CalMatters, July 18, 2024 "Even with all the industries where Californians went on strike during last year’s “hot labor summer,” some of the most active sites of...
Dany Bahar, Prithwiraj Choudhury, Britta Glennon, October 19, 2020
An Executive Order worth $100 billion: The impact of an immigration ban’s announcement on Fortune 500 firms’ valuation
"Abstract: On June 22, 2020, President Trump issued an Executive Order (EO) that suspended new work visas, barring nearly 200,000 foreign workers and their dependents from entering the United States and preventing American companies from hiring skilled immigrants using H-1B or L-1 visas. Exploiting this shock, and using event study methodology analyzing the cumulative average abnormal returns (CAARs) of Fortune 500 companies following this order, we find that the EO statistically and economically significantly caused negative CAARs of up to 0.45%, the equivalent of over 100 billion of US dollars of losses, based on the firms’ valuation before the event. Our results are particularly pronounced for firms that had maintained or increased their reliance on skilled immigrant workers over the prior years."