Trade with Nominal Rigidities: Understanding the Unemployment and Welfare Effects of the China Shock
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We present a dynamic quantitative trade and migration model that incorporates downward nominal wage rigidities and show how this framework can generate changes in unemployment and labor participation that match those uncovered by the empirical literature studying the China shock. We find that the
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美国国家经济研究局创建时间：
2020-10-01
