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Productivity and Misallocation in General Equilibrium

Baqaee, David Rezza - 2017

impact of a shock can be boiled down into two components: its "pure" technology effect; and its effect on allocative …

Persistent link: https://www.econbiz.de/10012453706

Byford, Martin C. - 2014

We provide a new model that generates persistent performance differences amongst seemingly similar enterprises. Our model provides a mechanism whereby efficient incumbent rivals can give permission for an inefficient firm to exist in the presence of efficient entrants. We demonstrate that, in a...

Persistent link: https://www.econbiz.de/10012458155

Firm Heterogeneity, Endogenous Entry, and the Business Cycle

Ottaviano, Gianmarco I.P. - 2011

This paper investigates the role that the entry and exit of heterogeneous firms plays in shaping aggregate fluctuations in economic activity. In so doing, it develops a dynamic stochastic general equilibrium model in which procyclical entry and countercyclical exit along a real business cycle...

Persistent link: https://www.econbiz.de/10012461225

Idiosyncratic Shocks and the Role of Nonconvexities in Plant and Aggregate Investment Dynamics

Khan, Aubhik - 2007

We study a model of lumpy investment wherein establishments face persistent shocks to common and plant …-specific productivity, and nonconvex adjustment costs lead them to pursue generalized (S,s) investment rules. We allow persistent … the first model consistent with available evidence on establishment-level investment rates. Examining the implications of …

Persistent link: https://www.econbiz.de/10012465811

Entry, Exit, Firm Dynamics, and Aggregate Fluctuations

Clementi, Gian Luca - 2013

allow for investment in physical capital and aggregate fluctuations. In the aftermath of a positive productivity shock, the …

Persistent link: https://www.econbiz.de/10012459446

Slow Recoveries

Bergoeing, Raphael - 2004

Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics through its effect on productivity: the entry and...

Persistent link: https://www.econbiz.de/10012468109

Slow Recoveries : A Structural Interpretation

Galí, Jordi - 2012

An analysis of the performance of GDP, employment and other labor market variables following the troughs in postwar U.S. business cycles points to much slower recoveries in the three most recent episodes, but does not reveal any significant change over time in the relation between GDP and...

Persistent link: https://www.econbiz.de/10012460574

Regulation and Investment

Alesina, Alberto - 2003

product market, concerning in particular entry barriers, are negatively related to investment. The implications of our … analysis are clear: regulatory reforms, especially those that liberalize entry, are very likely to spur investment …

Persistent link: https://www.econbiz.de/10012469140

Credit Rationing, Risk Aversion and Industrial Evolution in Developing Countries

Bond, Eric - 2008

Relative to their counterparts in high-income regions, entrepreneurs in developing countries face less efficient financial markets, more volatile macroeconomic conditions, and higher entry costs. This paper develops a dynamic empirical model that links these features of the business environment...

Persistent link: https://www.econbiz.de/10012464529

Production Flexibility, Misallocation and Total Factor Productivity

Uras, Burak R. - 2017

Economy-wide institutional deficiencies causing factor misallocation have been emphasized as essential determinants of aggregate TFP differences. This paper argues that production flexibility at the micro-level is an economic characteristic that should be given priority in TFP aggregation...

Persistent link: https://www.econbiz.de/10012453743

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