主   题：Firm-specific Exchange Rate Shocks and Employment Adjustment: Evidence from China.

主讲人： 徐建炜

摘   要：This paper examines how exchange rate shocks affect intra-industry labor reallocation across firms. Using comprehensive Chinese firm-level data, we examine the employment response to exchange rates of firms that are heterogeneous along two dimensions: external orientation and trading partner distribution. Firm-specific effective exchange rates are constructed to accurately measure exchange rate shocks pertinent to individual firms. We find that exchange rate movements induce significant labor reallocation across firms with different degrees of external orientation and with different trading partners. Trading partner distribution is as important as external orientation in explaining firms’ heterogeneous employment response to exchange rates. Compared with effective exchange rate measures at more aggregate levels, using firm-specific effective exchange rates generates estimation results more consistent with theory and substantially increases the estimated impact of exchange rates on intra-industry job reallocation.

关于主讲人：徐建炜，北京师范大学经济与工商管理学院副教授。他的研究方向是国际金融学与劳动经济学。科研成果发表在《经济研究》、《管理世界》、《世界经济》以及各类英文SSCI期刊。目前的主要研究内容是汇率传递理论和劳动需求理论。

时 间：2017年5月17日星期三14:00-15:15

地 点：学术会堂南楼608室

主办单位：人力资本与劳动经济研究中心