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Demand learning and firm dynamics: evidence from exporters
Berman, Nicolas; Rebeyrol, Vincent; Vicard, Vincent - C.E.P.R. Discussion Papers - 2015
This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets they serve, and update their beliefs as noisy...
Persistent link: https://www.econbiz.de/10011213311
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The Impact of Location on Firm Growth
Audretsch, David B; Dohse, Dirk - C.E.P.R. Discussion Papers - 2004
This Paper links the performance of new technology firms, measured in terms of growth, to geographic location. We introduce a model of firm growth that is specific to characteristics of the location as well as the firm and industry. The model is estimated using a new dataset identifying the...
Persistent link: https://www.econbiz.de/10005124462
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On the Evolution of the Firm Size Distribution: Facts and Theory
Cabral, Luís M B; Mata, José - C.E.P.R. Discussion Papers - 2001
little of this evolution. Instead, we propose a simple theory based on financing constraint. A calibrated version of our …
Persistent link: https://www.econbiz.de/10005504696
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Agency, Firm Growth and Managerial Turnover
Anderson, Ronald W.; Bustamante, Maria Cecilia; … - C.E.P.R. Discussion Papers - 2012
We study managerial incentive provision under moral hazard in a firm subject to stochastic growth opportunities. In our model, managers are dismissed after poor performance, but also when an alternative manager is more capable of growing the firm. The optimal contract may involve managerial...
Persistent link: https://www.econbiz.de/10011083381
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Demand or productivity: What determines firm growth?
Pozzi, Andrea; Schivardi, Fabiano - C.E.P.R. Discussion Papers - 2012
We disentangle the contribution of unobserved heterogeneity in idiosyncratic demand and productivity to firm growth. We use a model of monopolistic competition with Cobb-Douglas production and a dataset of Italian manufacturing firms containing unique information on firm-level prices to reach...
Persistent link: https://www.econbiz.de/10011083518
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Exporter Dynamics, Firm Size and Growth, and Partial Year Effects
Bernard, Andrew B.; Massari, Renzo; Reyes, Jose-Daniel; … - C.E.P.R. Discussion Papers - 2014
Two otherwise identical firms that enter the same market in different months, one in January and one in December, will report dramatically different annual sales for the first calendar year of operations. This partial year effect in annual data leads to downward biased observations of the level...
Persistent link: https://www.econbiz.de/10011084375
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The Anatomy of French Production Hierarchies
Caliendo, Lorenzo; Monte, Ferdinando; Rossi-Hansberg, … - C.E.P.R. Discussion Papers - 2012
We use a comprehensive dataset of French manufacturing firms to study their internal organization. We first divide the employees of each firm into `layers' using occupational categories. Layers are hierarchical in that the typical worker in a higher layer earns more, and the typical firm...
Persistent link: https://www.econbiz.de/10011084412
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Innovating Firms and Aggregate Innovation
Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002
We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...
Persistent link: https://www.econbiz.de/10005788918
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Factors and Effects of Trade Reorientation in Hungary
Halpern, László - C.E.P.R. Discussion Papers - 1993
profitability of the corporate sector and exporting firms. Exporting firms with fast-growing exports had larger profits and they …
Persistent link: https://www.econbiz.de/10005666895
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Minimum Wages and Firm Profitability
Draca, Mirko; Machin, Steve; Van Reenen, John - C.E.P.R. Discussion Papers - 2006
other aspects of firm behaviour. In this paper we consider the impact of minimum wages on firm profitability by exploiting … firm profitability was significantly reduced (and wages significantly raised) by the minimum wage introduction. This … residential care homes, and a second on firms across all sectors). Interestingly, we find no evidence that the profitability …
Persistent link: https://www.econbiz.de/10005124436