We develop and structurally estimate a model of heterogeneous multiproduct firms that can be used to decompose the firm … variation in firm sales. We show that the imperfect substitutability of products within firms, and the fact that larger firms … on prices and sales, we find that variation in firm appeal and product scope explains at least four fifths of the …

We analyze monetary policy in a New Keynesian model with heterogeneous firms and financial frictions. Firms differ in … on the time-varying distribution of firms. Although a reduction in real rates increases misallocation in partial …-productivity firms relatively more than that of low-productivity ones, crowding out the latter and increasing TFP. We provide empirical …

cost allocation methods. Based on a sample of 73 responses from a survey of Australian manufacturing and service …

establishment level to firm level due to the internal adjustment of continuing firms …This paper presents a set of facts on the cyclicality of firm births and deaths in the U.S. during the period 1979 …--2013. Asymmetry in the cyclicality between firm birth and firm death is observed: aggregate firm birth is generally significantly …

previously demonstrated for publicly-traded U.S. manufacturing firms from 1974 to 1993 apply to the same sorts of firms from 1993 …The growth of business firms is an example of a system of complex interacting units that resembles complex interacting … of the growth of business firms follow the same sorts of power laws that characterize physical systems near their …

decomposition is shown in a model featuring heterogeneous multiproduct firms, oligopolistic competition and free firm entry. When …I investigate changes in product scope, the number of products that a firm offers, over the business cycle and … purchases for 2007- 2014, I find that firm product scope is an important margin of adjustment. The changes at this margin are …

In this paper, we study a new channel to explain firms' price setting behavior. We propose that uncertainty about … factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile … prices set higher markups. We use the Bartik shift-share approach to empirically test whether firms which use more oil …

of entry and exit of U.S. manufacturing plants, in terms of employment and productivity, between 1972 and 1997. We show …

Product scope adjustment is a key mechanism through which multi-product firms achieve efficient resource allocations …. In this paper, we take a novel perspective to study firms' product scope adjustment behavior through the lens of asset … pricing. Using a unique panel scanner data set containing detailed information on products, matched with the financial …