Blanchard, Pierre; Huiban, Jean-Pierre; Mathieu, Claude - HAL - 2012
A semi-parametric approach is used to estimate firm propensity to exit. The unobserved individual productivity of a … firm is first estimated using the Ackerberg et al. (2006) approach and then introduced as a determinant of firm exit in … conjunction with other variables that may serve as barriers to exit, including the firm's level of sunk costs and the industry …