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REAL EXCHANGE RATE, MERCANTILISM AND THE LEARNING BY DOING EXTERNALITY

✍ Scribed by Joshua Aizenman; Jaewoo Lee

Book ID
111047771
Publisher
John Wiley and Sons
Year
2010
Tongue
English
Weight
289 KB
Volume
15
Category
Article
ISSN
1361-374X

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## Abstract We construct and estimate by maximum likelihood a job search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learning‐by‐doing. Al