We analyse productivity growth in UK manufacturing 1980-92 using the newly available ARD panel of establishments drawn … organizational change) and 'external' restructuring (the process by which less efficient establishments exit and more efficient … establishments enter and increase market share). We find that (a) 'external restructuring' accounts for 50% of labour productivity …

, this being particularly relevant to de novo entrants as compared to entry by established firms. Current size is also found … differences, past growth matters for survival suggesting a partial adjustment process for firm size in the post entry period …. Finally, new plants are more likely to live longer if they enter growing industries or industries with little entry activity. …

that entry and exit rates are positively correlated across industries. Our objective is to investigate the effect of sunk … costs and, in particular, market size on entry and exit rates. We analyse a stochastic dynamic model of a monopolistically … show existence and uniqueness of a stationary equilibrium with simultaneous entry and exit: efficient firms survive while …

firms, and the fact that larger firms supply more products than smaller firms, implies that standard productivity measures … are not independent of demand system assumptions and probably dramatically understate the relative productivity of the …

aggregation problem introduces a bias into standard measures of firm productivity. We develop a theoretical model of heterogeneous …

theoretical model incorporates heterogeneous firms, heterogeneous products, and ongoing entry and exit. In equilibrium, firm … fixed costs. Changes in market structure result in systematic patterns of firm entry/exit and product switching. … productivity is correlated with product fixed costs, with the most productive firms choosing to make the products with the highest …

the defence in a dynamic setting with uncertainty. A firm entering a market also considers its ease of exit, foreseeing … that it may later wish to leave should market conditions deteriorate. By facilitating exit in times of financial distress …, the failing firm defence may encourage entry sufficiently that welfare is increased overall. This view of the defence has …