The opportunity costs of entrepreneurs in international trade

Timothy J. Kehoe; Pau S. Pujolàs; Kim J. Ruhl

doi:10.1016/j.econlet.2016.07.012

The opportunity costs of entrepreneurs in international trade

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

Economics

Research output: Contribution to journal › Article › peer-review

6 Scopus citations

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 wages in the span-of-control model.

Original language	English (US)
Pages (from-to)	1-3
Number of pages	3
Journal	Economics Letters
Volume	146
DOIs	https://doi.org/10.1016/j.econlet.2016.07.012
State	Published - Sep 1 2016

All Science Journal Classification (ASJC) codes

Finance
Economics and Econometrics

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10.1016/j.econlet.2016.07.012

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title = "The opportunity costs of entrepreneurs in international trade",

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{\textquoteright} forgone wages in the span-of-control model.",

author = "Kehoe, \{Timothy J.\} and Pujol{\`a}s, \{Pau S.\} and Ruhl, \{Kim J.\}",

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doi = "10.1016/j.econlet.2016.07.012",

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AU - Kehoe, Timothy J.

AU - Pujolàs, Pau S.

AU - Ruhl, Kim J.

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N2 - 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.

AB - 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.

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DO - 10.1016/j.econlet.2016.07.012

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VL - 146

SP - 1

EP - 3

JO - Economics Letters

JF - Economics Letters

ER -

The opportunity costs of entrepreneurs in international trade

Abstract

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