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Too much of a good thing? : Exporters, multiproduct firms and labor market imperfections

Author: Carsten Eckel; Stephen R Yeaple; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2017.
Series: Working paper series (National Bureau of Economic Research), no. 23834.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
International trade is primarily conducted by large, multiproduct firms (MPFs) that pay above average wages and exhibit high productivity. In this paper we show that if firms can invest in management technologies for identifying worker skill then they will enjoy a form of market power in the labor market that artificially lowers their labor costs. This market failure results in excessive consumption of resources by  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Carsten Eckel; Stephen R Yeaple; National Bureau of Economic Research,
OCLC Number: 1004309554
Notes: "September 2017"
Description: 1 online resource (36 pages, 3 unnumbered pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 23834.
Responsibility: Carsten Eckel, Stephen R. Yeaple.

Abstract:

International trade is primarily conducted by large, multiproduct firms (MPFs) that pay above average wages and exhibit high productivity. In this paper we show that if firms can invest in management technologies for identifying worker skill then they will enjoy a form of market power in the labor market that artificially lowers their labor costs. This market failure results in excessive consumption of resources by large, productive exporting firms relative to the social optimum. Trade liberalization then has an ambiguous effect on aggregate welfare: lower trade costs increase access to foreign goods but also exacerbates the labor market distortion as resources are transferred to large firms. The model highlights the need to know why firms "excel" before drawing welfare conclusions regarding cross firm reallocations of resources.

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