Exchange Rates and Employment Instability: Evidence form Matched CPS Data

摘要

The past two decades have been associated with a rapid increase in the internationalization of production and sales by U.S. producers. These phenomena suggest heightened poten- Tial for labor-market participants to be directly Affected by dollar movements. When the dol- Lar appreciates, a decline in the competitive- Ness of U.S. producers may force job loss and Churning and lead to reduced worker earnings.