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Ayumu Ken Kikkawa

Associate Professor · UBC Sauder School of Business

Associate Professor at the UBC Sauder School of Business, working on international trade and labor markets. NBER Faculty Research Fellow in the International Trade and Investment program.

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Published American Economic Review Online 1 Dec 2025 Published Dec 2025
Firm Responses and Wage Effects of Foreign Demand Shocks with Fixed Labor Costs and Monopsony

Emmanuel Dhyne · Ayumu Ken Kikkawa · Toshiaki Komatsu · Magne Mogstad · Felix Tintelnot

The paper asks three related questions in the context of Belgium, a small open economy: (1) What do firms' responses to demand shocks reveal about their cost structures? (2) What are the worker and …

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