By specifying the setting of the footloose capital model with firm heterogeneity, this paper examines the effects of trade liberalization on unemployment through two different mechanisms: firstly, we embed search frictions into the labor market; and secondly, we consider fair wages as the source of unemployment. In the model with search frictions, we find that both the expected wage and employment rate could be higher for a small country with better search technology. In the fair wage setting, the results show that an increase in trade freeness increases the unemployment rate of the large (small) country when the trade freeness is sufficiently high (low). Finally, we try to compare the welfare levels under different scenarios and discover that unemployment may lead to a deterioration in the welfare gains from trade.

中文翻译：

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贸易和企业异质性的失业

通过指定具有公司异质性的松散资本模型的设置，本文通过两种不同的机制研究贸易自由化对失业的影响：首先，我们将搜索摩擦嵌入劳动力市场；其次，我们认为公平工资是失业的根源。在具有搜索摩擦的模型中，我们发现，对于一个拥有更好搜索技术的小国，预期工资和就业率都可能更高。在公平工资设置中，结果表明，贸易自由度的提高足够大（低）时，贸易自由度的提高会增加大（小）国家的失业率。最后，我们尝试比较不同情况下的福利水平，发现失业可能导致贸易福利收益下降。