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Download or read book Entry, Exit, and Aggregate Productivity Growth written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jose Asturias
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (974 download)
Download or read book Firm Entry and Exit and Aggregate Growth written by Jose Asturias and published by . This book was released on 2017 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from Chile and Korea, we find that a larger fraction of aggregate productivity growth is due to firm entry and exit during fast-growth episodes compared to slow-growth episodes. Studies of other countries confirm this empirical relationship. We develop a model of endogenous firm entry and exit based on Hopenhayn (1992). Firms enter with efficiencies drawn from a distribution whose mean grows over time. After entering, a firm’s efficiency grows with age. In the calibrated model, reducing entry costs or barriers to technology adoption generates the pattern we document in the data. Firm turnover is crucial for rapid productivity growth.
Author : Chin-Hee Hahn
Publisher :
ISBN 13 : 9788980630998
Total Pages : 60 pages
Book Rating : 4.6/5 (39 download)
Download or read book Entry, Exit, and Aggregate Productivity Growth written by Chin-Hee Hahn and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chin-hŭi Han
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (762 download)
Download or read book Entry, Exit, and Aggregate Productivity Growth written by Chin-hŭi Han and published by . This book was released on 2000 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using plant level panel data on Korean manufacturing during the 1990-98 period, this study tries to assess the role of entry and exit in enhancing aggregate productivity, both qualitatively and quantitatively. The main findings of this study are summarised as follows. First, plant entry and exit rates in Korean manufacturing seem quite high: they are higher than in both the United States and several developing countries for which comparable studies exist. Second, in line with existing studies on other countries, plant turnover reflects underlying productivity differentials in Korean manufacturing, with the "shadow of death" effect as well as selection and learning effects all present. Third, plant entry and exit account for as much as 45 and 65 per cent in manufacturing productivity growth during cyclical upturn and downturn, respectively. This study also shows that plant birth and death are mainly a process of resource reallocation from plants with relatively low and declining ...
Author :
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.:/5 (319 download)
Download or read book Relation Entry, Exit, and Productivity written by and published by . This book was released on 2009 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : W. Erwin Diewert
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (19 download)
Download or read book On Measuring the Contribution of Entering and Exiting Firms to Aggregate Productivity Growth written by W. Erwin Diewert and published by . This book was released on 2005 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problem of assessing the impact of firm entry and exit on aggregate productivity growth is addressed. The proposed method overcomes some problems with currently proposed methods. The paper also addresses some of the problems involved in aggregating outputs and inputs when firms enter and exit so that the one output and one input aggregate productivity decompositions can be applied. It turns out that multilateral index number theory is useful in performing the aggregation of many outputs (inputs) into a single output (input).
Author : Gian Luca Clementi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Entry, Exit, Firm Dynamics, and Aggregate Fluctuations written by Gian Luca Clementi and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How important are firm entry and exit in shaping aggregate dynamics? We address this question by characterizing the equilibrium allocation in Hopenhayn (1992)'s model of equilibrium industry dynamics, amended to allow for investment in physical capital and aggregate fluctuations. We find that entry and exit propagate the effects of aggregate shocks. In turn, this results in greater persistence and unconditional variation of aggregate time-series. In the aftermath of a positive productivity shock, the number of entrants increases. The new firms are smaller and less productive than the incumbents, as in the data. As the common productivity component reverts to its unconditional mean, the new entrants that survive become progressively more productive, keeping aggregate efficiency higher than in a scenario without entry or exit. We also find that both the mean and variance of the cross-sectional distribution of firm-level productivity are counter-cyclical, in spite of the assumption that innovations to firm-level productivity are i.i.d. and orthogonal to aggregate shocks. This happens because of selection: the idiosyncratic productivity of the marginal entrant is lower in expansion than during recessions. Since idiosyncratic productivity is mean-reverting, mean and variance of the distribution of productivity growth are pro-cyclical.
Author : James R. Tybout
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4./5 ( download)
Download or read book Manufacturing Firms in Developing Countries written by James R. Tybout and published by World Bank Publications. This book was released on 1998 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michele Cincera
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.3/5 ( download)
Download or read book Impact of Market Entry and Exit on EU Productivity and Growth Performance written by Michele Cincera and published by . This book was released on 2005 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Entry, exit, economic performance and the degree of economic and business regulation: a review of the literature - 3. Data and descriptive statistics - 4. Econometric framework - 5. Empirical findings - 6. Summary and conclusions.
Author : John Haltiwanger
Publisher : University of Chicago Press
ISBN 13 : 022645407X
Total Pages : 488 pages
Book Rating : 4.2/5 (264 download)
Download or read book Measuring Entrepreneurial Businesses written by John Haltiwanger and published by University of Chicago Press. This book was released on 2017-09-21 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Measuring Entrepreneurial Businesses: Current Knowledge and Challenges brings together and unprecedented group of economists, data providers, and data analysts to discuss research on the state of entrepreneurship and to address the challenges in understanding this dynamic part of the economy. Each chapter addresses the challenges of measuring entrepreneurship and how entrepreneurial firms contribute to economies and standards of living. The book also investigates heterogeneity in entrepreneurs, challenges experienced by entrepreneurs over time, and how much less we know than we think about entrepreneurship given data limitations. This volume will be a groundbreaking first serious look into entrepreneurship in the NBER's Income and Wealth series.
Author : Charles R. Hulten
Publisher : University of Chicago Press
ISBN 13 : 0226360644
Total Pages : 648 pages
Book Rating : 4.2/5 (263 download)
Download or read book New Developments in Productivity Analysis written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2007-11-01 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Author : Timothy Dunne
Publisher : University of Chicago Press
ISBN 13 : 0226172570
Total Pages : 623 pages
Book Rating : 4.2/5 (261 download)
Download or read book Producer Dynamics written by Timothy Dunne and published by University of Chicago Press. This book was released on 2009-05-15 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.
Author : Loren Brandt
Publisher : Cambridge University Press
ISBN 13 : 1139470949
Total Pages : 887 pages
Book Rating : 4.1/5 (394 download)
Download or read book China's Great Economic Transformation written by Loren Brandt and published by Cambridge University Press. This book was released on 2008-04-14 with total page 887 pages. Available in PDF, EPUB and Kindle. Book excerpt: This landmark study provides an integrated analysis of China's unexpected economic boom of the past three decades. The authors combine deep China expertise with broad disciplinary knowledge to explain China's remarkable combination of high-speed growth and deeply flawed institutions. Their work exposes the mechanisms underpinning the origin and expansion of China's great boom. Penetrating studies track the rise of Chinese capabilities in manufacturing and in research and development. The editors probe both achievements and weaknesses across many sectors, including China's fiscal, legal, and financial institutions. The book shows how an intricate minuet combining China's political system with sectorial development, globalization, resource transfers across geographic and economic space, and partial system reform delivered an astonishing and unprecedented growth spurt.
Author : Amil Petrin
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (255 download)
Download or read book Measuring Aggregate Productivity Growth Using Plant-level Data written by Amil Petrin and published by . This book was released on 2005 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: We define productivity growth as the change in welfare that arises from additional output holding primary inputs constant. Using this traditional growth-accounting definition, we show that gains may arise because of plant-level technology shocks, and, in imperfectly competitive settings, from the reallocation of inputs across plants with differing markups and/or shadow values of primary inputs. With plant-level data, the alternative and most popular definition of productivity growth looks at the difference in the first moments of the productivity distribution. We show that this definition adds an additional term to the growth-accounting measure, which has been called "reallocation." We show there is a very weak relationship between the two indexes in almost every 3-digit manufacturing industry in both Chile from 1987-1996 and Colombia from 1981-1991 - 49 in total - primarily because this "reallocation" term is large and volatile. We explore the theoretical reasons for this sharp divergence, in the process uncovering a number of previously unnoticed and unattractive features of the first-moment definition. For example, it is not tethered to any theoretical model, it is sensitive to measured units, and it can report positive productivity growth when welfare has fallen.
Author : Marc J. Melitz
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (796 download)
Download or read book Dynamic Olley-Pakes Productivity Decomposition with Entry and Exit written by Marc J. Melitz and published by . This book was released on 2012 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we propose an extension of the productivity decomposition method developed by Olley & Pakes (1996). This extension provides an accounting for the contributions of both firm entry and exit to aggregate productivity changes. It breaks down the contribution of surviving firms into a component accounting for changes in the firm-level distribution of productivity and another accounting for market share reallocations among those firms -- following the same methodology as the one proposed by Olley & Pakes (1996). We argue that the other decompositions that break-down aggregate productivity changes into these same four components introduce some biases in the measurement of the contributions of entry and exit. We apply our proposed decomposition to the large measured increases in Slovenian manufacturing during the 1995-2000 period -- and contrast our results with those other decompositions. We find that, over a 5 year period, the measurement bias associated with entry and exit is substantial, accounting for up to 10 percentage points of aggregate productivity growth. We also find that market share reallocations among surviving firms played a much more important role in driving aggregate productivity changes.
Author : Sónia Félix
Publisher : International Monetary Fund
ISBN 13 : 1513521519
Total Pages : 57 pages
Book Rating : 4.5/5 (135 download)
Download or read book What is the Impact of Increased Business Competition? written by Sónia Félix and published by International Monetary Fund. This book was released on 2019-12-13 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that reduced entry time and costs. Using the staggered implementation of the policy across the Portuguese municipalities, we find that the reform increased local entry and employment by, respectively, 25% and 4.8% per year in its first four years of implementation. Moreover, around 60% of the increase in employment came from incumbent firms expanding their size, with most of the rise occurring among the most productive firms. Standard models of firm dynamics, which assume a constant elasticity of substitution, are inconsistent with the expansionary and heterogeneous response across incumbent firms. We show that in a model with heterogeneous firms and variable markups the most productive firms face a lower demand elasticity and expand their employment in response to increased entry.
Author : Daron Acemoglu
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (13 download)
Download or read book Innovation, Reallocation, and Growth written by Daron Acemoglu and published by . This book was released on 2019 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between highand low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D. Taxing the continued operation of incumbents can lead to sizable gains (of the order of 1.4% improvement in welfare) by encouraging exit of less productive firms and freeing up skilled labor to be used for R&D by high-type incumbents. Subsidies to the R&D of incumbents do not achieve this objective because they encourage the survival and expansion of low-type firms.
