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Title

Globalization and labor market outcomes: Wage bargaining, search frictions, and firm heterogeneity

AuthorsFelbermayr, Gabriel; Prat, Julien ; Schmerer, Hans-Jörg
KeywordsTrade liberalization
Unemployment
Search model
Firm heterogeneity
Issue Date9-Jul-2010
PublisherElsevier
CitationJournal of Economic Theory 146(1): 39–73 (2011)
AbstractWe introduce search unemployment into Melitz's trade model. Firms' monopoly power on product markets leads to strategic wage bargaining. Solving for the symmetric equilibrium we show that the selection effect of trade influences labor market outcomes. Trade liberalization lowers unemployment and raises real wages as long as it improves average productivity. We show that this condition is likely to be met by a reduction in variable trade costs or by entry of new trading countries. Calibrating the model shows that the long-run impact of trade openness on the rate of unemployment is negative and quantitatively significant.
Description50 páginas, 5 figuras, 3 tablas.-- El pdf del artículo es el documento de trabajo.
Publisher version (URL)http://dx.doi.org/10.1016/j.jet.2010.07.004
URIhttp://hdl.handle.net/10261/44732
DOI10.1016/j.jet.2010.07.004
ISSN0022-0531
Appears in Collections:(IAE) Artículos
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