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Labor Market Frictions, Firm Growth, and International Trade

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  • Pablo D. Fajgelbaum

Abstract

This paper develops a model to study the aggregate effects of labor market frictions in an open economy through their impact on the growth and investment decisions of firms. The model features interactions between firms’ dynamic fixed investments in exporting and search frictions with job-to-job mobility. Search frictions in worker transitions between jobs induce slow firm growth and are a source of dispersion in firm size and revenue per worker. The model is tractable for general-equilibrium analysis and accommodates several extensions which are useful for quantitative work. A calibration to Argentina’s economy that matches data on firm growth, worker transitions between firms and export dynamics suggests that frictions in job-to-job mobility may have considerable effects on firm growth and aggregate outcomes.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19492.

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Date of creation: Oct 2013
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Handle: RePEc:nbr:nberwo:19492

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Cited by:
  1. Nezih Guner & James Tybout & A. Kerem Cosar, 2009. "Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy," 2009 Meeting Papers 811, Society for Economic Dynamics.
  2. Gabriel J. Felbermayr & Gilbert Spiegel, 2012. "A Simple Theory of Trade, Finance, and Firm Dynamics," CESifo Working Paper Series 3873, CESifo Group Munich.
  3. Felbermayr, Gabriel & Impullitti, Giammario & Prat, Julien, 2014. "Firm Dynamics and Residual Inequality in Open Economies," IZA Discussion Papers 7960, Institute for the Study of Labor (IZA).
  4. Allen Tran, 2013. "Customer Driven Establishment Dynamics and Allocative Efficiency," 2013 Meeting Papers 115, Society for Economic Dynamics.
  5. Christian Holzner & Mario Larch, 2011. "Capacity Constraining Labor Market Frictions in a Global Economy," CESifo Working Paper Series 3597, CESifo Group Munich.

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