Département d'économie de Sciences Po

Information in the First Globalization: News Agencies and Trade

This paper documents the effect of information frictions on trade using a historical large-scale improvement in the transmission of news: the emergence of global news agencies. The information available to potential traders became more abundant, was delivered faster and at a chea...

Life‐Cycle Wage Growth and Firm Productivity in Developed and Developing Economies

ABSTRACT Life‐cycle wage growth varies substantially across countries. We study the firm productivity distribution's role in a random‐search model with learning and labor‐market frictions, estimated for Brazil, Colombia, and the United States. Brazil has a long left tail of low‐p...

Matching Function Equilibria with Partial Assignment: Existence, Uniqueness and Estimation

We argue that models coming from a variety of fields, such as matching models and discrete choice models among others, share a common structure that we call matching function equilibria with partial assignment. This structure includes an aggregate matching function and a system o...