[国际经济学Seminar]Markets and Markups: A New Empirical Framework and Evidence on Exporters from China

题目:Markets and Markups: A New Empirical Framework and Evidence on Exporters from China

摘要:We build a new empirical framework for analyzing destination-specific markup and quantity adjustments by exporters. Our first contribution is an unbiased estimator of the destination-specific markup elasticity to the exchange rate that isolates marginal costs in large unbalanced panels where the set of markets served by a rm varies endogenously with currency movements. We extend this methodology to estimate adjustments in a rm’s trade volumes across markets that are associated with exchange rate-induced adjustments in markups; we dub this the cross-market supply elasticity. Our second contribution is a new classification of Harmonized System products into high and low dierentiation goods—which we used as a proxy for exporters’ market power. Exploiting information about Chinese “measure words” reported in customs declarations, we add value to existing classification systems including Rauch (1999) and the UN’s Broad Economic Categories. Applying this framework to exporters from China, we find that the average markup elasticity is higher for high dierentiation goods (20%) than for low dierentiation goods (6%). The cross-market supply elasticities are correspondingly lower for high than low dierentiation goods, 0.83 and 2.47, respectively.

主讲人简介: 宋华盛:浙江大学经济学院教授、博士生导师,浙江大学民营经济研究中心研究员。研究方向为国际经济学、产业组织理论和创新经济学。比利时鲁汶大学经济学博士。英国剑桥大学和诺丁汉大学访问学者。九三学社浙江省委员会经济工作委员会副主任。主持国家自然科学基金项目、浙江省自然科学基金项目、浙江省社会科学项目、教育部重点研究基地重大项目等科研项目等项目,在Journal of International Economics, Regional Science and Urban Economics 等国内外期刊发表论文二十多篇。

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