International Diversification, Reallocation, and the Labor Share
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https://www.nber.org/papers/w31168
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How does growing international financial diversification affect firm-level and aggregate labor shares? We study this question using a novel framework of firm labor choice in the face of aggregate risk. The theory implies a cross-section of labor risk premia and labor shares that appear as markups in
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美国国家经济研究局创建时间：
2023-04-01
