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Author: Umut Kılınç
Publisher:
ISBN: 9789036102506
Category :
Languages : en
Pages : 152
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Book Description
Author: Umut Kılınç
Publisher:
ISBN: 9789036102506
Category :
Languages : en
Pages : 152
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Book Description
Author: Henri Luomaranta
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Administrative registers maintained by statistical offices on vastly heterogeneous firms have much untapped potential to reveal details on sources of productivity of firms and economies alike. It has been proposed that firm-level shocks can go a long way in explaining aggregate fluctuations. Based on novel monthly frequency data, idiosyncratic shocks are able to explain a sizable share of the Finnish economic fluctuations, providing support to the granular hypothesis. The global financial crisis of 2007-2008 has challenged the field of economic forecasting, and nowcasting has become an active field. This thesis shows that the information content of firm-level sales and truck traffic can be used for nowcasting GDP figures, by using a specific mixture of machine learning algorithms. The agency problem lies at the heart of much of economic theory. Based on a unique dataset linking owners, CEOs and firms, and exploiting plausibly exogenous variations in the separation of ownership and control, agency costs seem to be an important determinant of firm productivity. Furthermore, the effect appear strongest in medium-sized firms. Enterprise group structures might have important implications on the voluminous literature on firm size, as large share of SME employment can be attributed to affiliates of large business groups. Within firm variation suggests that enterprise group affiliation has heterogeneous impacts depending on size, having strong positive impact on productivity of small firms, and negative impact on their growth. In terms of aggregate job creation, it is found that the independent small firms have contributed the most. The results in this thesis underline the benefits of paying attention to samples encompassing the total population of firms. Researchers should continue to explore the potential of rich administrative data sources at statistical offices and strive to strengthen the ties with data producers.
Author: Ping Hsuan Fung
Publisher:
ISBN:
Category :
Languages : en
Pages : 296
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Author: Rémy Lecat
Publisher:
ISBN:
Category :
Languages : en
Pages : 486
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Book Description
This thesis emphasises the role of individual firm data in explaining the dynamics of productivity through four chapters: 1) It contributes to the correct measurement of total factor productivity (TFP). In most estimates, TFP is procyclical, displaying increasing return to scale in the short run. Imperfect competition may be one explanation for this stylised fact. However, taking correctly into account factor utilisation, and in particular capital operating time, leads to estimating constant returns to scale. 2) Individual firm data allows to measure convergence of productivity among firms, which is an important component of productivity dynamics at the macroeconomic level, especially in France. A significant convergence is found, which however has slowed during the 2nd half of the 1990s : already highly-productive firms have benefitted the most from ICT and globalisation, while increasing competition fostered innovation in these firms. 3) The relationship between regulation, and more precisely barrieto entry, competition and productivity in the service sector is addressed. Indeed, regulation has a complex impact on productivity, which can run through different channels. Individual firm data allows isolating the impact of barriers to entry on competition, as reflected by mark-ups, and then of competition on productivity. 4) The role of labour relations has been emphasised mostly through case studies. Through an original firm-level survey, deteriorated labour relations are shown to have a negative impact on productivity, but only when they can rely on regulation. On the contrary, branch or firm agreements make it possible to overcome the constraints of regulation.
Author: Xiaomei Sui
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 0
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"This dissertation consists of essays studying how macroeconomic outcomes, particularly aggregate productivity growth, are affected by the change in market environment or market frictions in the presence of heterogeneous firms from an international perspective. Each chapter employs both empirical and quantitative macroeconomic methods. The first chapter studies how globalization contributes to uneven firm growth and its implications for industrial concentration and productivity growth in OECD countries. I document new facts showing that industry leaders grow faster in sales and patenting than followers, particularly in industries with increasing export intensities; sales divergence is mainly driven by exports rather than domestic sales. To rationalize these facts, I develop a two-country endogenous growth model with strategic domestic and international competition and an 'innovation disadvantage of backwardness' that captures how firms innovate less when left behind. Globalization, modelled as decreasing trade iceberg costs and increasing international knowledge spillovers, triggers a stronger innovation response among leaders than followers via the market size effect, inducing an increase in domestic concentration that depresses firm innovation via weaker domestic competition: followers and leaders reduce innovation due to the innovation dis-advantage of backwardness and decreasing returns to innovation, respectively. The globalization-induced harsher foreign competition also reduces innovation via lower profits. In the calibrated model, globalization explains 80% of the rise in industrial concentration and 50% of the productivity growth slowdown in the data, mainly due to weaker domestic competition. The increasing international knowledge spillover force of globalization dominates. The second chapter studies how the less-developed financial market in Southern European countries contributes to their slower aggregate productivity growth than developed European countries since the information and communications technology revolution. I document that Southern European firms have lower productivity growth, lower intangible capital growth, and lower leverage than developed European firms. The disparity is larger among smaller firms. To rationalize these findings, I build a model featuring endogenous firm productivity growth through innovation investment and size-dependent financial frictions. Financial frictions lower productivity growth via two channels: innovation investment and misallocation. The model finds that financial frictions account for at least 11% of the aggregate productivity growth difference in the data, mainly via the innovation investment channel. The model also highlights that fast capital and output growth may coexist with slow productivity growth due to firms' tradeoffs in allocating a constrained amount of investment between capital and productivity."--Pages viii-ix.
Author: Robert M. Solow
Publisher: MIT Press
ISBN: 9780262041102
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
The essays in this book extend and elaborate on many of the important ideas Solow has either originated or developed in the past three decades.
Author: Lan Dinh
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 91
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Author: Joonkyo Hong
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This dissertation consists of three chapters that attempt to understand how forward-looking firms make costly decisions and their subsequent implications for the industry's performance. The first chapter "Sunk Cost and Entrant's Choice of Capacity" develops a dynamic model of strategic entry to study how the structure of sunk entry costs influences the entrant's scale decision and the long-run market outcomes. Contrary to the typical dynamic entry model, my model features that the structure of sunk costs shapes not the number of competitors but also the industry's scale distribution. I empirically assess this channel using a case study of a land-use deregulatory reform in the South Korean cinema chain industry. The deregulation is estimated to act as an entry subsidy, particularly appealing to larger-scale theaters. However, the industry suffers a 5.6 percent loss of discounted net profits due to intensified competition and increased expenses on fixed operating costs. The resulting implicit cost of the regulatory action is not uncovered by the typical model, as it obscures the shift in the distribution toward a larger scale. The second chapter "The Differential Effect of Exporting on Input Productivities" examines how the firm's export decision shapes its input allocation in the long run, focusing on the non-neutral technological changes. I particularly study whether entering the export market results in differential increases in input productivities at the firm level (non-neutral change). I develop a model that distinguishes between firm-level skilled and unskilled labor-augmenting productivities and material input prices. Applying the model to data on the Colombian apparel manufacturers, I find that exporting raises the skilled labor-augmenting productivity by a 7.2-percentage point more than the unskilled counterpart. In a counterfactual simulation in which exporting raises the two productivities equally, the mean differences in skilled-to-unskilled employee ratios between exporters and non-exporters are 50 percent smaller than the data counterparts. The result suggests that non-neutral productivity gain from trade is central in shaping the input allocation differences between exporters and non-exporters. The third chapter "Trade Dynamics of Heterogeneous Producers under Trade Cost Complementarity" estimates a dynamic model of the firm's joint export and import decision process. In the model, participating in trade improves within-period profits and future productivity. In addition, doing one trade activity facilitates the other by reducing the associated fixed/sunk costs. Employing a Bayesian MCMC estimator, I fit the model to Colombian chemical plant panel data from 1981 to 1985. Two findings stand out: (i) importing increases future productivity significantly while exporting does not. (ii) importing facilitates exporting by lowering the sunk costs of entering the export market, while exporting facilitates importing by decreasing the fixed continuation costs of importing. A counterfactual simulation shows that subsidizing the fixed costs of importing is the most effective among trade cost subsidy schemes in improving the average productivity and firm value.
Author: Sandra Ospina
Publisher: International Monetary Fund
ISBN: 1451982119
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations from the World Bank Enterprise Survey database, we find a positive and robust causal relationship between our proxies for competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to competition spurred by product-market reforms is around 12-15 percent.
Author: Ou Liu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In chapter 2, I study what do changes in top sales shares signal about changes in large firm dynamics. I use an accounting decomposition to identify two sources of top sales shares growth: (i) incumbent top firms grow bigger; (ii) new top firms replace old top firms. I then build a continuous-time random growth model to infer the growth dynamics of firms at the upper tail of firm size distribution. In Chapter 3, in collaboration with Tam Mai, Istudy the implications of occupational and regional inequality on the labor market after the breakout of the COVID-19 pandemic.
