Managers' mobility, trade performance, and wages
In: Journal of international economics, Band 94, Heft 1, S. 85-101
ISSN: 0022-1996
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In: Journal of international economics, Band 94, Heft 1, S. 85-101
ISSN: 0022-1996
In: ECB Working Paper No. 1596
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In: IZA Discussion Paper No. 4646
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In: IZA Discussion Paper No. 6013
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In: CESifo Working Paper Series No. 6256
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In: Journal of international economics, Band 90, Heft 1, S. 75-90
ISSN: 0022-1996
In: Journal of political economy, Band 121, Heft 1, S. 74-126
ISSN: 1537-534X
In: NBER Working Paper No. w19236
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In this paper we provide a quantitative analytical framework for analyzing trade and multinational production (MP), consistent with a set of stylized facts for trade and MP, among them that both exports and MP adhere to a gravity model. We propose a heterogeneous firm trade model where firms choose endogenously whether to serve foreign markets through MP or exports, where headquarters and affiliates are vertically integrated, and where firms face stochastic entry and demand shocks in each market. Using a unique firm-level data set on production, trade and MP, we establish key regularities about the entry and sales patterns of multinationals that support the model building blocks. We develop a new maximum likelihood estimator that connects the theory directly to the data and that allows us to identify key parameters of the model, explore its plausibility and implications. Our main result is that intra-firm trade plays a crucial role in shaping the geography of MP. This conclusion is robust to any geographical distribution of fixed costs.
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Working paper
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Working paper
In: CESifo Working Paper No. 7300
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Working paper
In: Journal of political economy, Band 129, Heft 12, S. 3491-3545
ISSN: 1537-534X
In: Journal of economic psychology, Band 78, S. 102265
ISSN: 0167-4870