Uncertainty and China's Decentralized Food Import:Structure Estimation and Counterfactual Research
Using firm-level transaction data during 2000-2015 in China,we document a series of styli-zed facts to highlight the impact of uncertainties rooted in international market on firm-level food importing behaviors.We develop a general equilibrium model by incorporating risk-aversion into heteroge-neous firms.We structurally estimate key parameters and conduct a battery of counterfactual experiments.The results show that increasing uncertainty encourages firm-level import diversification and lower volatil-ity,so that more imports can be realized.The fall of the uncertainty correlation among sourcing countries could effectively reduce firm-level import volatility.
万方数据
维普
