G2TT
来源类型Discussion paper
规范类型论文
来源IDDP12670
DP12670 The Nature of Firm Growth
Vincent Sterk; Petr Sedlacek; Benjamin Pugsley
发表日期2018-01-31
出版年2018
语种英语
摘要Only half of all startups survive past the age of five and surviving businesses grow at vastly different speeds. Using micro data on employment in the population of U.S. businesses, we estimate that the lion's share of these differences is driven by ex-ante heterogeneity across firms, rather than by ex-post shocks. We embed such heterogeneity in a firm dynamics model and study how ex-ante differences shape the distribution of firm size, ``up-or-out'' dynamics, and the associated gains in aggregate output. ``Gazelles'' --a small subset of startups with particularly high growth potential-- emerge as key drivers of these outcomes. Analyzing changes in the distribution of ex-ante firm heterogeneity over time reveals that the birth rate and growth potential of gazelles has declined, creating substantial aggregate losses.
主题Monetary Economics and Fluctuations
关键词Firm dynamics Startups Macroeconomics Big data
URLhttps://cepr.org/publications/dp12670
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/541482
推荐引用方式
GB/T 7714
Vincent Sterk,Petr Sedlacek,Benjamin Pugsley. DP12670 The Nature of Firm Growth. 2018.
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