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How do banks facilitate creative destruction and shape firm turnover? We develop a dynamic general equilibrium model of bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By restructuring loans to firms with poor prospects and...
Persistent link: https://www.econbiz.de/10014241611
Persistent link: https://www.econbiz.de/10012127079
We construct a framework of firm dynamics to evaluate the impact of the enforcement of contracts between final goods producers and their intermediate goods suppliers on firm growth, technology accumulation, and aggregate productivity. We build upon the static contracts model of Acemoglu et al....
Persistent link: https://www.econbiz.de/10012616379
This paper provides a direct test of how fixed export costs and productivity jointly determine firm-level export behavior. Using Chilean data, we construct indices of fixed export costs for each industry-region-year triplet and match them to domestic firms. Our empirical results show that firms...
Persistent link: https://www.econbiz.de/10010256719
Received wisdom suggests that most exporters sell the majority of their output domestically. In this paper, however, we show that the distribution of export intensity not only varies substantially across countries, but in a large number of cases is also bimodal, displaying what we refer to as...
Persistent link: https://www.econbiz.de/10011750100
documented that exporting is a rare activity, that exporting firms are larger and more productive than other firms, and that … heterogeneous and highly concentrated. Second, both the extensive margin (number of exporting firms) and the intensive margin … multinational firms, the import behavior of firms, and the extent to which heterogeneity is endogenous to firms. choices, but some …
Persistent link: https://www.econbiz.de/10012799723
margin: the number of exporting firm has grown, and the number of exported products has fallen more for top firms. Instead …
Persistent link: https://www.econbiz.de/10012144227
margin: the number of exporting firms has grown, and the number of exported products has fallen relatively more for top firms …
Persistent link: https://www.econbiz.de/10012582049
This paper studies structural change in production networks for intermediate inputs (input-output network) and new capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising fraction of production by services sectors. We develop a...
Persistent link: https://www.econbiz.de/10014348090
This paper uses an oligopoly model with heterogeneous firms to examine how an industry adjusts to rising import …-competitive effects of import penetration on the domestic industry disappear in the long run. The predictions for the short run are …
Persistent link: https://www.econbiz.de/10010265261