一、报告题目：

 Firms’ Heterogeneity, Demand Accumulating, and Exchange Rate Pass-Through

二、报告人：

谭用，南京财经大学副教授

三、报告时间：

 2018年09月20日（周四）上午10:00-12:00

四、报告地点：

知新楼B423

五、报告人简介；

谭用（Yong Tan），南京财经大学副教授，美国范德堡大学研究员，主要研究为国际贸易，产业组织。目前的研究侧重于异质性贸易理论以及动态结构性模型。他的研究也设计到市场结构，汇率波动对于企业行为的影响。

六、报告摘要:

In this paper, we study how the export behaviors of new and incumbent exporters differentially respond to exchange rate shocks. We establish a dynamic model, in which new exporters strategically charge a lower price than incumbent exporters in order to grow their customer base and increase future sales. The model predicts that new exporters adjust their price more aggressively relative to their incumbent counterparts in response to exchange rate fluctuations. Meanwhile, export quantities of new exporters change less than that of incumbent exporters in response to exchange rate shocks. Using a transaction-level dataset containing all Chinese exporters during the 2000-2009 period, we find supporting evidence for the model’s predictions: new exporters adjust their price 1.5 times more than incumbent exporters. This, in turn, results in export quantities being less responsive to exchange rate shocks among new exporters. The result holds for a series of robustness checks. The findings imply that there are different degrees of exchange rate pass-through among new and incumbent exporters.

七、主办单位：

必赢线路检测中心