报告题目：Product Heterogeneous Effects of Economic Policy Uncertainty on Trade: Big Data Context Analysis Based on Chinese Newspapers
主讲人： 李兵 副教授
中央财经大学国际经济贸易学院
时间：8月25日(周六)上午9点
地点：东荣大厦808会议室
主办单位：经济学院
报告内容摘要：Abstract: This study constructs economic policy uncertainty index based on Chinese newspapers (CEPU), adopts both the economic policy uncertainty (EPU) index from Baker et al (2016) and CEPU, utilizes Chinese imports and exports monthly data of about 5000 products (HS6 level) from January 2010 to April 2016, and examines the product heterogeneous effects of economic policy uncertainty on exports. We find that some products respond to economic policy uncertainty negatively, while some others positively. Further, we try to explain the heterogeneous effects by BEC categories, product differentiation, and demand elasticity. And we find that capital goods and consumption goods respond to economic policy uncertainty more positively than intermediate goods, differentiated goods are more positive than homogenous goods, low demand elastic goods are more positive than high demand elastic goods. Finally, we built up a searching model with flexible bargaining power to explain above empirical findings.
