| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17433 |
| 来源ID | Working Paper 17433 |
| Firm Heterogeneity, Endogenous Entry, and the Business Cycle | |
| Gianmarco I.P. Ottaviano | |
| 发表日期 | 2011-09-15 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper investigates the role that the entry and exit of heterogeneous firms plays in shaping aggregate fluctuations in economic activity. In so doing, it develops a dynamic stochastic general equilibrium model in which procyclical entry and countercyclical exit along a real business cycle lead to endogenous cyclical movements in average firm productivity. These movements stem from a composition effect due to the reallocation of market shares among firms with different levels of efficiency and affect the propagation of exogenous technological shocks. Numerical analysis suggests that existing models with representative firms may overstate the actual role of procyclical entry and exit in imperfectly competitive markets as a propagation mechanism of exogenous technology shocks. The reason is that procyclical entry and countercyclical exit disproportionately involve less efficiency firms whose impact on aggregate economic activity is hampered by their smaller size. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w17433 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575107 |
| 推荐引用方式 GB/T 7714 | Gianmarco I.P. Ottaviano. Firm Heterogeneity, Endogenous Entry, and the Business Cycle. 2011. |
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| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17433.pdf（276KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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