A Theory of Outsourcing and Wage Decline
---- Acknowledgements -----
Holmes acknowledges NSF Grant 0551062 for support of this research. We thank Erzo Luttmer and Charles Thomas and workshop participants at the University of Minnesota for helpful comments on this paper. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.