Exchange rate risk and the skill composition of labor

被引：0

作者：

Friberg, Richard ^{[1
,3
,4
]}

Sanctuary, Mark ^{[2
,5
]}

机构：

[1] Stockholm Sch Econ, POB 6501, S-11383 Stockholm, Sweden

[2] IVL Swedish Environm Res Inst, POB 210 60, S-10031 Stockholm, Sweden

[3] Norwegian Sch Econ, Bergen, Norway

[4] CEPR, London, England

[5] Stockholm Univ, Stockholm, Sweden

来源：

REVIEW OF WORLD ECONOMICS | 2020年 / 156卷 / 02期

关键词：

Skill-biased organizational change; Exchange rate risk; Firm heterogeneity; DERIVATIVES; FIRMS; ORGANIZATION; UNCERTAINTY; VARIABILITY; VOLATILITY; EMPLOYMENT; EXPORTERS; MARKETS; WORKERS;

D O I：

10.1007/s10290-019-00363-0

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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 x export destination and firm x 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.

引用

页码：287 / 312

页数：26

共 50 条

[41] Analyzing Hedging Exchange Rate Risk in Gold Market [J].

Guo, Haochen .

MANAGING AND MODELLING OF FINANCIAL RISKS, 8TH INTERNATIONAL SCIENTIFIC CONFERENCE, PTS I & II, 2016, :256-262

[42] Exchange rate risk exposure and the value of European firms [J].

Parlapiano, Fabio ;

Alexeev, Vitali ;

Dungey, Mardi .

EUROPEAN JOURNAL OF FINANCE, 2017, 23 (02) :111-129

[43] Exchange rate risk and the equity performance of financial intermediaries [J].

Gounopoulos, Dimitrios ;

Molyneux, Philip ;

Staikouras, Sotiris K. ;

Wilson, John O. S. ;

Zhao, Gang .

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2013, 29 :271-282

[44] Media sentiment fluctuations on exchange rate, managerial risk appetite and FX derivatives usage [J].

Wang, Daoping ;

Xin, Liying ;

Shen, Xinyan ;

Wang, Yedong .

PACIFIC-BASIN FINANCE JOURNAL, 2025, 91

[45] THE SKILL COMPOSITION OF US CITIES [J].

Hendricks, Lutz .

INTERNATIONAL ECONOMIC REVIEW, 2011, 52 (01) :1-32

[46] Mixed models for optimal saving with labor income risk and interest-rate risk [J].

Georgescu, Irina .

SOFT COMPUTING, 2022, 26 (09) :4395-4411

[47] Reexamining the Exchange Rate Exposure Puzzle by Classifying Exchange Rate Risks into Two Types [J].

Kang, Sammo ;

Kim, Soyoung ;

Lee, Jeong Wook .

GLOBAL ECONOMIC REVIEW, 2016, 45 (02) :116-133

[48] Foreign exchange rate entropy evolution during financial crises [J].

Stosic, Darko ;

Stosic, Dusan ;

Ludermir, Teresa ;

de Oliveira, Wilson ;

Stosic, Tatijana .

PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 2016, 449 :233-239

[49] Decomposing exchange rate risk of Chinese foreign exchange reserves with extreme loss data [J].

Pan Zhibin .

PROCEEDINGS OF THE INTERNATIONAL SYMPOSIUM ON FINANCIAL ENGINEERING AND RISK MANAGEMENT 2008, 2008, :167-171

[50] Investment and exchange rate uncertainty [J].

Atella, V ;

Atzeni, GE ;

Belvisi, PL .

JOURNAL OF POLICY MODELING, 2003, 25 (08) :811-824

← 1 2 3 4 5 →