| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23875 |
| 来源ID | Working Paper 23875 |
| Older and Slower: The Startup Deficit\u2019s Lasting Effects on Aggregate Productivity Growth | |
| Titan Alon; David Berger; Robert Dent; Benjamin Pugsley | |
| 发表日期 | 2017-10-02 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We investigate the link between declining firm entry, aging incumbent firms and sluggish U.S. productivity growth. We provide a dynamic decomposition framework to characterize the contributions to industry productivity growth across the firm age distribution and apply this framework to the newly developed Revenue-enhanced Longitudinal Business Database (ReLBD). Overall, several key findings emerge: (i) the relationship between firm age and productivity growth is downward sloping and convex; (ii) the magnitudes are substantial and significant but fade quickly, with nearly 2/3 of the effect disappearing after five years and nearly the entire effect disappearing after ten; (iii) the higher productivity growth of young firms is driven nearly exclusively by the forces of selection and reallocation. Our results suggest a cumulative drag on aggregate productivity of 3.1% since 1980. Using an instrumental variables strategy we find a consistent pattern across states/MSAs in the U.S. The patterns are broadly consistent with a standard model of firm dynamics with monopolistic competition. |
| 主题 | Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w23875 |
| 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/581547 |
| 推荐引用方式 GB/T 7714 | Titan Alon,David Berger,Robert Dent,et al. Older and Slower: The Startup Deficit\u2019s Lasting Effects on Aggregate Productivity Growth. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23875.pdf（662KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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