How Media Opinion Influences Imports in the US

Does public opinion influence US imports?Do countries with a good reputation export more to the US?And vice versa?Based on an extended trade gravity model,this paper employs news data from the GDELT database and US monthly import data to create an indicator of the influence of public opinion to examine the effects of US domestic public opinion on imports.Our research findings suggest that:(i)US public opinion influences US imports.Specifically,(ii)when public opinion turned negative during 2013-2017,it exerted a significantly negative effect on US imports;when public opinion was favorable during 2008-2012,it exerted an insignificantly positive effect on US imports.(iii)According to the pulse response function and variance decomposition,negative public opinion exerted a more significant and more lasting effect on US imports compared with positive public opinion.(iv)It can be discovered after further decomposing such effects on product categories that significant product heterogeneity exists in the public opinion effects on US imports:Complex and differentiated products are more influenced by negative public opinion while homogeneous and intermediate products are more influenced by positive public opinion.

Exchange Rate Pass-through to China＇s Export Price： A Product-level Investigation

Exchange rate movement usually results in changes in the production costs of exporting firms, and, therefore, the prices and the quantity of traded products. The present paper constructs a theoretical model to demonstrate that export products with higher productivity, or with larger market share, or of higher quality will experience a less complete passthrough. Using the six-digit harmonized system export data from the CEPII database over the period of 2000 to 2013, the present paper examines how product heterogeneity affects the exchange rate pass-through of Chinese exports. The empirical results show that the most competitive Chinese export products, or those least affected by exchange rate risks, are those of higher quality, with higher technological complexity and at the high end of the international value chain. Therefore, Chinese exporting firms should pay more attention to improving export quality and upgrading technology to better cope with exchange rate risks and to enjoy more bargaining power in the international market.

Differential pricing and production strategies for heterogeneous products under cannibalization and promotional effects

This study examines the optimal pricing and production strategy of a closed-loop supply chain consisting of a manufacturer, a recycler, and consumers. Considering the cannibalization and promotion effects of remanufactured products on new and secondhand products, we constructed Stackelberg game models under different scenarios. We analyze the impact of the changes in the two effects on the optimal prices and production strategies of the manufacturer and recycler, as well as their countermeasures. We find that (i) how the cannibalization and promotional effects influence the manufacturer and the recycler's pricing and production strategies differ under different scenarios;(ii) when the two effects exceed a threshold, the manufacturer abandons new or remanufactured products, and the recycler prefers to stop production on its new products or continue to remanufacture products;and (iii) the two effects always reduce the profits of the manufacturer and increase the profits of the recycler.