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国际经济学workshop：Online Borders: Imports from China, Price Setting, and Exchange Rate Pass-through
发布日期：2017-05-31 05:04 来源：北京大学国家发展研究院
国际经济学workshop
时间：2017年5月31日（周三）10：30－12：00 am
地点：北大国发院/中国经济研究中心万众楼一楼小教室
主持人：余淼杰 余昌华 王歆
主讲人：贾盾（中国人民大学）
题目：Online Borders: Imports from China, Price Setting, and Exchange Rate Pass-through
摘要：Little is known about the pricing dynamics of traded goods when trading has been increasingly settled across the virtual borders online. We exploit the high frequency transaction-level data of a leading U.S. online marketplace to examine the price-setting behavior of the U.S. import goods from China. We find that online sellers of goods shipped from China adjust prices more frequently compared to their counterparts of the U.S. domestic sellers (0.5 vs. 0.3 of monthly price adjustment frequency) as well as those U.S. imports settled offline. Second, imports from China are priced approximately 50 % cheaper than goods sold by U.S. sellers, and the prices of the former group become increasingly flexible since 2012 whereas the U.S. goods are consistently priced rigidly. Third, import goods from China exhibit much stronger pass-through (medium-run of 55 percent and long-run of 80 percent) in response to changes in the China-U.S. nominal exchange rate. Fourth, we find that higher concentration of Chinese sellers as measured by either number of sellers or the market value in a given goods category are associated with more rigid price setting among U.S. sellers.
主讲人简介：贾盾，2016年8月至今，任中国人民大学汉青经济与金融高级研究院助理教授。2009年在北京大学获得经济学和英语双学士学位；2011年获得美国哥伦比亚大学社会科学量化方法（统计学）硕士学位；2016年获得马里兰大学经济学博士学位。主要研究领域为宏观经济学、货币经济学、金融经济学等。
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国际经济学workshop：Online Borders: Imports from China, Price Setting, and Exchange Rate Pass-through
发布日期：2017-05-31 05:04 来源：北京大学国家发展研究院
国际经济学workshop
时间：2017年5月31日（周三）10：30－12：00 am
地点：北大国发院/中国经济研究中心万众楼一楼小教室
主持人：余淼杰 余昌华 王歆
主讲人：贾盾（中国人民大学）
题目：Online Borders: Imports from China, Price Setting, and Exchange Rate Pass-through
摘要：Little is known about the pricing dynamics of traded goods when trading has been increasingly settled across the virtual borders online. We exploit the high frequency transaction-level data of a leading U.S. online marketplace to examine the price-setting behavior of the U.S. import goods from China. We find that online sellers of goods shipped from China adjust prices more frequently compared to their counterparts of the U.S. domestic sellers (0.5 vs. 0.3 of monthly price adjustment frequency) as well as those U.S. imports settled offline. Second, imports from China are priced approximately 50 % cheaper than goods sold by U.S. sellers, and the prices of the former group become increasingly flexible since 2012 whereas the U.S. goods are consistently priced rigidly. Third, import goods from China exhibit much stronger pass-through (medium-run of 55 percent and long-run of 80 percent) in response to changes in the China-U.S. nominal exchange rate. Fourth, we find that higher concentration of Chinese sellers as measured by either number of sellers or the market value in a given goods category are associated with more rigid price setting among U.S. sellers.
主讲人简介：贾盾，2016年8月至今，任中国人民大学汉青经济与金融高级研究院助理教授。2009年在北京大学获得经济学和英语双学士学位；2011年获得美国哥伦比亚大学社会科学量化方法（统计学）硕士学位；2016年获得马里兰大学经济学博士学位。主要研究领域为宏观经济学、货币经济学、金融经济学等。
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