Institutional Distortions and Trade Elasticity of Exchange Rate: Micro-level Evidence from China

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In this year, I mainly conducted an empirical analysis by using the panel dataset constructed in the previous. To identify the causal effect of exchange rate changes on firm exports, the main identification strategy used in the research is difference in difference.In this year, I also invited Professor Xiaodong Zhu from the University of Hong Kong to have a seminar in Chuo university, and he presented his paper titled "Finance, Managerial Inputs, and Misallocation" which was closely related to my research topic. During Professor Zhu's stay in Japan, we had several research meetings to discuss the construction of models, important variables, and empirical methodologies. I received valuable insights from him, which greatly contributed to the improvement of my research.