| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16205 |
| DP16205 Productivity, Profitability and Growth | |
| Petr Sedlacek; Marek Ignaszak | |
| 发表日期 | 2021-05-30 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Recent empirical evidence suggests that firm selection and growth are largely demand-driven. We incorporate this feature into a model of endogenous growth in which heterogeneous firms innovate and survive based on profitability, rather than productivity alone. We show analytically that firm-level demand variation impacts aggregate growth by changing firms’ incentives to innovate. Estimating our model on U.S. Census firm data, we quantify that 20% of aggregate growth is demand-driven and that the macroeconomic impact of growth policies is fundamentally different compared to a model driven by productivity variation alone. We find empirical support for our model mechanism in firm-level data. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Demand Firm heterogeneity Growth Innovation R&d Selection |
| URL | https://cepr.org/publications/dp16205 |
| 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/545176 |
| 推荐引用方式 GB/T 7714 | Petr Sedlacek,Marek Ignaszak. DP16205 Productivity, Profitability and Growth. 2021. |
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