NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Opportunity Costs of Entrepreneurs in International Trade

Timothy J. Kehoe, Pau S. Pujolas, Kim J. Ruhl

NBER Working Paper No. 22514
Issued in August 2016
NBER Program(s):Economic Fluctuations and Growth, International Trade and Investment

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.

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Document Object Identifier (DOI): 10.3386/w22514

Published: Timothy J. Kehoe & Pau S. PujolĂ s & Kim J. Ruhl, 2016. "The opportunity costs of entrepreneurs in international trade," Economics Letters, vol 146, pages 1-3. citation courtesy of

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