The Opportunity Costs of Entrepreneurs in International Trade
| Autor: | Kim J. Ruhl, Timothy J. Kehoe, Pau S. Pujolas |
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| Rok vydání: | 2016 |
| Předmět: | |
| DOI: | 10.21034/sr.533 |
| Popis: | We show that a trade model with an exogenous set of heterogeneous firms with fixed operating costs has the same aggregate outcomes as a span-of-control model. Fixed costs in the heterogeneous-firm model are entrepreneurs’ forgone wages in the span-of-control model. |
| Databáze: | OpenAIRE |
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