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DTSTART:20251102T020000
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DESCRIPTION:The Moynihan Institute's program for Trade\, Development\, and
Political Economy presents a talk by Doireann Fitzgerald\, senior research
economist\, Federal Reserve Bank of Minneapolis.Multinational affiliates
are more productive than domestic firms\, so how do they affect a host cou
ntry through the labor market? We use data for Norway to show that the lab
or market is characterized by a job ladder\, with multinationals on the up
per rungs. We calibrate a general equilibrium job ladder model with endoge
nous multinational entry to match the Norwegian data.In a counterfactual w
here multinationals face an infinite entry cost\, payments to labor fall a
nd profits of domestic firms rise\, but the impact is heterogeneous. Compe
tition for workers increases low down on the job ladder\, while it decreas
es high up.Doireann Fitzgerald joined the Federal Reserve Bank of Minneapo
lis as a senior economist in 2013. She has also been an assistant professo
r at Stanford University and the University of California–Santa Cruz. Doir
eann received a B.A. and M.A. in economics from University College Dublin
and a Ph.D. in economics from Harvard University. She has been a visiting
assistant professor at Harvard (2005–6) and a fellow in the International
Economics Section at Princeton University (2010–11). Her work has appeared
in the Journal of International Economics\, the Journal of Monetary Econo
mics\, and the American Economic Review. Her main area of interest is inte
rnational economics.
DTEND:20240415T210500Z
DTSTAMP:20260510T183239Z
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SUMMARY:Dorieann Fitzgerald: The Impact of Multinationals Along the Job Lad
der
UID:RFCALITEM639140203598195055
X-ALT-DESC;FMTTYPE=text/html:The Moynihan Institute's program for Trade\
, Development\, and Political Economy presents a talk by Doireann Fitzgera
ld\, senior research economist\, Federal Reserve Bank of Minneapolis.
<
p>Multinational affiliates are more productive than domestic firms\, so ho
w do they affect a host country through the labor market? We use data for
Norway to show that the labor market is characterized by a job ladder\, wi
th multinationals on the upper rungs. We calibrate a general equilibrium j
ob ladder model with endogenous multinational entry to match the Norwegian
data.In a counterfactual where multinationals face an infinite ent
ry cost\, payments to labor fall and profits of domestic firms rise\, but
the impact is heterogeneous. Competition for workers increases low down on
the job ladder\, while it decreases high up.
<
p>Doireann Fitzgerald joined the Federal Reserve Bank of Minneapolis
as a senior 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. in economics from Harvard University. She has been a visiting assi
stant professor at Harvard (2005–6) and a fellow in the International Econ
omics Section at Princeton University (2010–11). Her work has appeared in
the Journal of International Economics\, the Journal of
Monetary Economics\, and the American Economic Review. H
er main area of interest is international economics.
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