G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12592
DP12592 A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
David Thesmar; David Sraer
发表日期2018-01-14
出版年2018
语种英语
摘要We consider a dynamic economy populated by heterogeneous firms subject to generic capital frictions: adjustment costs, taxes and financing constraints. A random subset of firms in this economy receives an empirical "treatment", which modifies the parameters governing these frictions. An econometrician observes the firm-level response to this treatment, and wishes to calculate how macroeconomic outcomes would change if all firms in the economy were treated. Our paper proposes a simple methodology to estimate this aggregate counterfactual using firm-level evidence only. Our approach takes general equilibrium effects into account, requires neither a structural estimation nor a precise knowledge on the exact nature of the experiment and can be implemented using simple moments of the distribution of revenue-to-capital ratios. We provide a set of sufficient conditions under which these formulas are valid and investigate the robustness of our approach to multiple variations in the aggregation framework.
主题Financial Economics ; Industrial Organization ; Macroeconomics and Growth
URLhttps://cepr.org/publications/dp12592
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/541403
推荐引用方式
GB/T 7714
David Thesmar,David Sraer. DP12592 A Sufficient Statistics Approach for Aggregating Firm-Level Experiments. 2018.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[David Thesmar]的文章
[David Sraer]的文章
百度学术
百度学术中相似的文章
[David Thesmar]的文章
[David Sraer]的文章
必应学术
必应学术中相似的文章
[David Thesmar]的文章
[David Sraer]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。