Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Jose Asturias
Publisher:
ISBN:
Category : Industrial organization (Economic theory)
Languages : en
Pages : 39

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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: 9788980630998
Category : Competition, Imperfect
Languages : en
Pages : 60

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Author: Chin-hŭi Han
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 50

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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:
Category : Barriers to entry (Industrial organization)
Languages : en
Pages : 100

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Author: W. Erwin Diewert
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 29

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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:
Category :
Languages : en
Pages : 0

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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: John Haltiwanger
Publisher: University of Chicago Press
ISBN: 022645407X
Category : Business & Economics
Languages : en
Pages : 488

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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: Michele Cincera
Publisher:
ISBN:
Category : European Economic Community countries
Languages : en
Pages : 140

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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: James R. Tybout
Publisher: World Bank Publications
ISBN:
Category : Developing countries
Languages : en
Pages : 66

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