Labour Market Frictions, Firm Growth, and International Trade
研究劳动力市场摩擦如何影响小国开放经济中的企业成长和出口投资，发现降低在职转换摩擦带来的实际收入增益是降低失业摩擦的七倍。
Abstract I study the aggregate effects of labour 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 seven 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.