BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//Telerik Inc.//Sitefinity CMS 15.1//EN BEGIN:VTIMEZONE TZID:Eastern Standard Time BEGIN:STANDARD DTSTART:20251102T020000 RRULE:FREQ=YEARLY;BYDAY=1SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11 TZNAME:Eastern Standard Time TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART:20250301T020000 RRULE:FREQ=YEARLY;BYDAY=2SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3 TZNAME:Eastern Daylight Time TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:THIS EVENT HAS BEEN CANCELLED.The Moynihan Institute's program for Trade\, Development and Political Economy presents a talk by Doireann Fitzgerald\, senior research economist\, Federal Reserve Bank of Minneapol is.There is a lot of evidence that multinational affiliates are more produ ctive than local firms. Given this\, what is the impact of their presence on local workers and firms through interactions in the labor market? We us e matched employer-employee data for Norway to show that the labor market is characterized by a job ladder\, and that multinational affiliates are l ocated on the upper rungs of this ladder. \;We build a general equilib rium job ladder model with endogenous entry of multinational affiliates an d calibrate the model to match key moments from the Norwegian data. Our ca libration matches the greater size of multinational affiliates through a p roductivity distribution that has a thicker right tail than that for domes tic establishments. We use the calibrated model to perform a counterfactua l where multinationals face an infinite entry cost. Multinational presence increases output and the total wage bill in the economy. However wage ine quality also increases. Competition for workers on the upper rungs of the job ladder becomes more intense\, while the intensity of competition low d own on the job ladder declines. Multinational presence also leads to highe r unemployment as workers become more picky about the jobs they accept. Fi nally\, multinational presence reduces aggregate profits of local firms.Do ireann Fitzgerald joined the Federal Reserve Bank of Minneapolis as a seni or economist in 2013. She has also been an assistant professor at Stanford University and the University of California–Santa Cruz. Doireann received a B.A. and M.A. in economics from University College Dublin and a Ph.D. i n economics from Harvard University. She has been a visiting assistant pro fessor at Harvard (2005–6) and a Fellow in the International Economics Sec tion at Princeton University (2010–11). Her work has appeared in the Journ al of International Economics\, the Journal of Monetary Economics\, and th e American Economic Review. Her main area of interest is international eco nomics. DTEND:20230925T210500Z DTSTAMP:20260512T222135Z DTSTART:20230925T194500Z LOCATION: SEQUENCE:0 SUMMARY:CANCELLED EVENT: Dorieann Fitzgerald: The Impact of Multinationals Along the Job Ladder UID:RFCALITEM639142068952666205 X-ALT-DESC;FMTTYPE=text/html:

THIS EVENT HAS BEEN CANCELLED.

The Moynihan Institute's program for Trade\, Development and Political Economy presents a talk by Doireann Fitzgerald\, senior res earch economist\, Federal Reserve Bank of Minneapolis.

There is a lo t of evidence that multinational affiliates are more productive than local firms. Given this\, what is the impact of their presence on local workers and firms through interactions in the labor market?

We use matched employer-employee data for Norway to show that the labor market is charac terized by a job ladder\, and that multinational affiliates are located on the upper rungs of this ladder. \;We build a general equilibrium job ladder model with endogenous entry of multinational affiliates and ca librate the model to match key moments from the Norwegian data.

Our calibration matches the greater size of multinational affilia tes through a productivity distribution that has a thicker right tail than that for domestic establishments. We use the calibrated model to perform a counterfactual where multinationals face an infinite entry cost.

Multinational presence increases output and the total wage bil l in the economy. However wage inequality also increases. Competition for workers on the upper rungs of the job ladder becomes more intense\, while the intensity of competition low down on the job ladder declines. Multinat ional presence also leads to higher unemployment as workers become more pi cky about the jobs they accept. Finally\, multinational presence reduces a ggregate profits of local firms.

Doireann Fitzgerald joined t he Federal Reserve Bank of Minneapolis as a senior economist in 2013. She has also been an assistant professor at Stanford University and the Univer sity of California–Santa Cruz. Doireann received a B.A. and M.A. in econom ics from University College Dublin and a Ph.D. in economics from Harvard U niversity.

She has been a visiting assistant professor at Harvard ( 2005–6) and a Fellow in the International Economics Section at Princeton U niversity (2010–11). Her work has appeared in the Journal of International Economics\, the Journal of Monetary Economics\, and the American Economic Review. Her main area of interest is international economics.

END:VEVENT END:VCALENDAR