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来源类型Working Paper
规范类型报告
DOI10.3386/w29414
来源IDWorking Paper 29414
Value without Employment
Simcha Barkai; Stavros Panageas
发表日期2021-11-01
出版年2021
语种英语
摘要Young firms' contribution to aggregate employment has been underwhelming. However, a similar trend is not apparent in their contribution to aggregate sales or aggregate stock market capitalization. We study the implications of the arrival of “low marginal - high average” revenue-product-of-labor firms in a stylized model of dynamic firm heterogeneity, and show that the model can account for a large number of facts related to the decline in “business dynamism”. We study the long-term implications of the decline in business dynamism on the economy by providing analytical results that connect the decline in dynamism to the eventual decline of consumption.
主题Microeconomics ; Households and Firms ; Macroeconomics ; Consumption and Investment ; Financial Economics ; Financial Institutions
URLhttps://www.nber.org/papers/w29414
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/587088
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GB/T 7714
Simcha Barkai,Stavros Panageas. Value without Employment. 2021.
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