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The notion that the exchange rate affects exports is well understood. However, whether exporters respond to the expectations of the exchange rate is unknown. Hence, in this study, we construct a measure of exchange rate expectations based on news articles from the Factiva database. We use machine learning to identify and classify news articles about the appreciation of the renminbi (RMB, Chinese currency)...
This paper develops a North–South trade model with heterogeneous labour and horizontally differentiated products, and compares the implications of two policies: Southern intellectual property rights (IPR) and Northern immigration policy, with the latter aiming to attract Southern talent as a means of pre‐empting imitation. Individuals self‐select into becoming entrepreneurs and innovate (imitate)...