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We introduce an equilibrium labor market model, where workers gradually learn about their unobserved production abilities. While engaged in a productive activity (occupation), workers observe their output and extract information that allows them to make inferences about their unobserved...
Persistent link: https://www.econbiz.de/10011080525
We incorporate learning in a monopolistically competitive model of trade with heterogeneous firms. Exporting firms face uncertainty about the demand their product faces in a given market and decide how much marketing to invest in. The incorporation of marketing in the model is essential because...
Persistent link: https://www.econbiz.de/10010554907