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Persistent link: https://www.econbiz.de/10011775283
How does a country's economic geography evolve along the development path? This paper documents recent employment growth in 18,961 regions in eight of the world's main economies. Overall, market potential is losing importance, and local density is gaining importance, as correlates of local...
Persistent link: https://www.econbiz.de/10012480470
We argue that greater misallocation is a key driver of the worse management practices in Mexico compared to the US. These management practices are strongly associated with higher productivity, growth, trade, and innovation. One indicator of greater misallocation in Mexico is the weaker...
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for the notion that markups are importantly related to differences in industry concentration, though the effect of … unionization is important. Concentration effects are important only in industries producing durable goods or differentiated …
Persistent link: https://www.econbiz.de/10012476954
on manufacturing industry-level growth rates and banking market concentration for U.S. states during 1899-1929--a period … geographically. Unlike studies of modern developing and developed countries, we find that banking market concentration had a positive … that banking market concentration boosted industrial growth. In addition, we find evidence that a greater prevalence of …
Persistent link: https://www.econbiz.de/10012462942
This paper develops a model of endogenous product selection by firms. The theory is motivated by new evidence we present on the importance of product switching by U.S. manufacturers. Two-thirds of continuing firms change their product mix every five years, and product switches involve more than...
Persistent link: https://www.econbiz.de/10012468909
Industry cost and demand conditions can vary across countries leading to differences in industry market structure, including the distribution of output and productivity across firms and the magnitude of entry and exit flows. It has been argued that despite many outward similarities, two of the...
Persistent link: https://www.econbiz.de/10012469949
The decline in the U.S. labor share is far from uniform across firms. While the aggregate labor share has declined, especially in manufacturing, retail, and wholesale, the labor share of a typical firm in these industries has risen. This paper studies the dynamics of the substitution of capital...
Persistent link: https://www.econbiz.de/10012496133