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The Role of External Economies in U.S. Manufacturing

Caballero, Ricardo J. - 2007

This paper develops a method for joint estimation of both the degree of internal returns to scale and the extent of external economies. We apply the method in estimating returns to scale indexes for U.S. manufacturing industries at the two-digit level. Overall, we find that only three of the...

Persistent link: https://www.econbiz.de/10012777162

Short and Long Run Externalities

Bartelsman, Eric J.; Caballero, Ricardo J.; Lyons, … - 2021

providing new evidence helpful for discriminating between different types of externalities. We investigate four-digit level … most important factor in the transmission of externalities. This suggests that transactions externalities accruing … primarily to the seller, and/or activity-driven demand externalities are significant for explaining the short-run behavior of …

Persistent link: https://www.econbiz.de/10013225827

Evidence on Growth, Increasing Returns and the Extent of the Market

Beaulieu, Joseph - 2011

We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive...

Persistent link: https://www.econbiz.de/10013124835

Gravity, Scale and Exchange Rates

Anderson, James E. - 2013

We develop a structural gravity model that introduces scale effects in bilateral trade. Scale effects and incomplete passthrough give two channels through which exchange rates have real effects on trade patterns. Estimates from Canadian provincial trade data identify these effects through their...

Persistent link: https://www.econbiz.de/10013086673

Internal Increasing Returns to Scale and Economic Growth

List, John A. - 2012

This study develops a model of endogenous growth based on increasing returns due to firms' technology choices. Particular attention is paid to the implications of these choices, combined with the substitution of capital for labor, on economic growth in a general equilibrium model in which the...

Persistent link: https://www.econbiz.de/10013112760

Economies of Scale in the Household : Puzzles and Patterns from the American Past

Logan, Trevon - 2008

Household economies of scale arise when households with multiple members share public goods, making larger households better off at lower per capita expenditures. While estimates of household economies of scale are critical for measuring income and living standards, we do not know how these...

Persistent link: https://www.econbiz.de/10012772365

Using Firm Optimization to Evaluate and Estimate Returns to Scale

Gorodnichenko, Yuriy - 2008

At the firm level, revenue and costs are well measured but prices and quantities are not. This paper shows that because of these data limitations estimates of returns to scale at the firm level are for the revenue function, not production function. Given this observation, the paper argues that,...

Persistent link: https://www.econbiz.de/10012773179

Prices and Market Shares in a Menu Cost Model

Burstein, Ariel T. - 2007

Pricing complementarities play a key role in determining the propagation of monetary disturbances in sticky price models. We propose a procedure to infer the degree of firm-level pricing complementarities in the context of a menu cost model of price adjustment using data on prices and market...

Persistent link: https://www.econbiz.de/10012775907

Are There Too Many Farms in the World? Labor-Market Transaction Costs, Machine Capacities and Optimal Farm Size

Foster, Andrew D. - 2017

This paper seeks to explain the U-shaped relationship between farm productivity and farm scale - the initial fall in productivity as farm size increases from its lowest levels and the continuous upward trajectory as scale increases after a threshold - observed across the world and in low-income...

Persistent link: https://www.econbiz.de/10012946022

The Inconsistency of Common Scale Estimators When Output Prices are Unobserved and Engogenous

Klette, Tor Jakob - 2010

This paper explores the inconsistency of common scale estimators when output is proxied by deflated sales, based on a common output deflator across firms. The problems arise when firms operate in an imperfectly competitive environment and prices differ between firms. In particular, we show that...

Persistent link: https://www.econbiz.de/10012760146

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