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 …

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 …

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 …

heterogeneous firms and financial frictions. In the model, firms with a high return to capital increase their investment more … stability is the optimal timeless response to demand, financial or TFP shocks. Finally, we present firm-level evidence …

-durable manufacturing. In durables, this phenomenon primarily reflects a relatively higher share of unproductive firms in a recession. In …Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is …. In a boom, when the market price of this fixed input is high, only more productive firms enter and only more productive …

This paper examines the frequency, pervasiveness and determinants of product switching by U.S. manufacturing firms. We … find that one-half of firms alter their mix of five-digit SIC products every five years, that product switching is … correlated with both firm- and firm-product attributes, and that product adding and dropping induce large changes in firm scope …

Many manufacturing industries, including the computer industry, have seen large increases in productivity growth rates … vintage capital model is introduced where learning increases productivity on any given technology and firms choose when to …

. This paper argues that the size of firms and the reaction-adjustment period are important conditions missed in this … literature. I illustrate the effects of this omission using data from the Spanish manufacturing industries between 1994 and 2001 … the replacement-displacement of large firms …