| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP9184 |
| DP9184 Demand or productivity: What determines firm growth? | |
| Fabiano Schivardi; Andrea Pozzi | |
| 发表日期 | 2012-10-21 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We disentangle the contribution of unobserved heterogeneity in idiosyncratic demand and productivity to firm growth. We use a model of monopolistic competition with Cobb-Douglas production and a dataset of Italian manufacturing firms containing unique information on firm-level prices to reach three main conclusions. First, demand shocks are at least as important as productivity shocks for firm growth. Second, firms respond to shocks less than a frictionless model would predict, suggesting the existence of adjustment frictions. Finally, the degree of under-response is much larger for TFP shocks. This implies the existence of frictions with differential effects according to the nature of the shock, unlike the typical frictions studied by the literature on factor misallocation. We consider hurdles to firm reorganization as one such friction and show that they hamper firms' responses to TFP shocks but not to demand shocks. |
| 主题 | Industrial Organization |
| 关键词 | Demand heterogeneity Firm growth Misallocation Tfp |
| URL | https://cepr.org/publications/dp9184 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538019 |
| 推荐引用方式 GB/T 7714 | Fabiano Schivardi,Andrea Pozzi. DP9184 Demand or productivity: What determines firm growth?. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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