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Creator: Kehoe, Timothy Jerome, 1953-, Pujolas, Pau S., and Ruhl, Kim J. Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 533 Abstract:
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 wage in the span-of-control model.
Palabra clave: Span-of-control model, International trade, Firm heterogeneity, and Income distribution Tema: F12 - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation, D31 - Personal Income, Wealth, and Their Distributions, and D43 - Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection