exchange rate shocks and heterogeneous enterprises and multinational production decisions（汇率的冲击和异构企业和跨国生产决策）.docVIP

Exchange rate shocks and heterogeneous enterprises and multinational production decisions Abstract: This paper draw Antr鄐 and Helpman model, build a South - North two-phase framework to discuss the exchange rate impact on production decisions of multinational Effects. Research shows: With the exchange rate shocks in different directions, multinational corporations to adjust their production decisions with a certain regularity When the exchange rate tends to depreciate the exchange rate impact the amount of outsourcing in the country will continue to shrink, while the amount of foreign direct investment to undertake a corresponding expansion, when the exchange rate tends to appreciate, international cooperation will likely continue to move to the relatively high wage costs, but relatively stable exchange rate competitive countries, the specific path for the “first outsourcing transfer, foreign direct investment after the transfer.” to see the country from exchange rate shocks, exchange rate fluctuations (considering the direction and magnitude of production decisions on the multinational nature may produce two different effects. a. exchange shock will lead to the production of multinational boundaries and location decisions Sort fundamental change. appreciation rate is larger, the greater the degree of change in the original decision, b. at a relatively slight appreciation and depreciation of the entire region, the exchange rate impact is just starting conversion to adjust the decision threshold effect (such as lead or lag, and the original order making converter remains unchanged. Keywords: exchange rate shocks, heterogeneous enterprise, investment location, multinational I. INTRODUCTION early 2000s to Melitz “trade within the industry the impact of resource allocation and productivity,” a text as a symbol in the international trade theory studies began showing a heterogeneous enterprise-based research new trends. Baldwin put on heterogeneous enterprise Th