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Labor Market Frictions, Firm Growth, and International Trade / Pablo D. Fajgelbaum.
- Format:
- Book
- Author/Creator:
- Fajgelbaum, Pablo D.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19492.
- NBER working paper series no. w19492
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- I study the aggregate effects of labor market frictions in a small open economy where firms grow slowly and make fixed export investments. The model features interactions between dynamic investments in exporting and search frictions with job-to-job mobility. A calibration to Argentina's economy matching data on firm growth, worker transitions between firms, and export dynamics suggests that the real income gains from lowering frictions in job-to-job transitions are about 7 times larger than comparable reductions in frictions from unemployment. Barriers to worker mobility across firms matter for the real income gains of trade-cost reductions.
- Notes:
- Print version record
- October 2013.
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