Exchange Rate,Export Price and Export Competitiveness of China:Evidence from Industry-level Data
利用中国行业层面数据，估计人民币名义有效汇率对出口价格的传递弹性，发现不同行业在短期和长期内传递程度差异显著，并识别出竞争力强弱不同的行业。
Using China's industry-level data,this paper exploits the distributed lag model to estimate the pass-through elasticities of RMB nominal effective exchange rate to China's export prices of all industries.The results show that there is a remarkable difference between the degrees of exchange rate pass-through to export prices of various industries both in the short and long run.In short-run,appreciation of the RMB will lead to an export price decline of food,leather,non-metallic,textile and wood industries.In long run,appreciation of the RMB will lead to a decline of export price for almost all the industries.Mining,paper,leather,wood and textile industries are less competitive in the global market,while chemical,food,culture and education,machinery,metallurgy industries are more competitive.