This paper uses matched employer–employee data covering the universe of Swedish private sector firms 1998–2014 to examine the links between exchange rate risk and the skill composition of labor in firms. We use firm \(\times\) export destination and firm \(\times\) import origin data to calculate firm-level measures of real exchange rate risk and real effective exchange rates. Our main result is that firms facing higher exchange rate risk employ a higher share of skilled labor and that the effect is especially marked among trade intensive firms in manufacturing and in firms with fewer than 50 employees. This finding is consistent with theoretical models of flexible work systems that require higher skill levels as a way of responding to higher risk.

中文翻译：

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汇率风险和劳动技能构成

本文使用涵盖1998-2014年瑞典私营部门企业范围的匹配的雇主-雇员数据，研究汇率风险与企业劳动力技能构成之间的联系。我们使用公司\（\ times \）的出口目的地和公司\（\ times \）的进口来源数据来计算公司级别的实际汇率风险和实际有效汇率。我们的主要结果是，面临较高汇率风险的公司雇用了更高比例的技术工人，而且这种影响在制造业中的贸易密集型公司和雇员少于50人的公司中尤为明显。这一发现与柔性工作系统的理论模型相一致，该模型需要更高的技能水平，以应对更高的风险。