English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Zendy Plus

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Zendy Tools

Zendy Open

This paper employed matched data for the first time to estimate firms’ exchange rate elasticity of export and analyze how total factor productivity (TFP) affect firms’ exchange rate elasticity of export. Using highly disaggregated matched data from Chinese transaction-level trade data and firm-level production data from 2000 to 2006, we construct firm-level real effective exchange rate (REER) and TFP. We find that when the firms’ TFP is at the mean level, the exchange rate elasticity of export is -0.093. Furthermore, when the TFP increases one standard deviation, the exchange rate elasticity of export is -0.062. The results indicate that the high-performance firms are less sensitive to react to an appreciation of exchange rate. When we divided the firms into five groups by firm’s productivity percentiles, or when we use labor productivity to replace the TFP, the results remain robust.

Exchange Rate Elasticity of Chinese Export and Firms’ Productivity: A Study based on Matched Firm-level Data