We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard … trade liberalization. While the former leads to more dispersion of economic activity across space, the latter tends to drive …

technology through trade in intermediates, appear to drive Europe’s output over the medium term. We develop a two-country model … of endogenous growth in varieties, cross-country firm heterogeneity and trade to match this evidence. A US TFP slowdown …

. Whereas trade does not affect the firm-internal assignment of workers to tasks in a setting with fully flexible wages, it … consequences for firm-level productivity, if low-skilled wages are fixed by a minimum wage. In this case, trade leads to higher per …

. Whereas trade does not affect the firm-internal assignment of workers to tasks in a setting with fully flexible wages, it … consequences for firm-level productivity, if low-skilled wages are fixed by a minimum wage. In this case, trade leads to higher per …

firms. Whereas trade does not affect the firm-internal assignment of workers to tasks, it reduces the range of tasks … minimum wage. In this case trade leads to higher per-capita income for both skill types and thus to higher welfare in the open …