全球智库信息集成服务系统(G2TT): Population Growth and Firm Dynamics

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w29424
来源ID	Working Paper 29424
	Population Growth and Firm Dynamics
	Michael Peters; Conor Walsh
发表日期	2021-11-01
出版年	2021
语种	英语
摘要	Population growth has declined markedly in almost all major economies since the 1970s. We argue this trend has important consequences for the process of firm dynamics and aggregate growth. We study a rich semi-endogenous growth model of firm dynamics, and show analytically that a decline in population growth reduces creative destruction, increases average firm size and concentration, raises market power and misallocation, and lowers aggregate growth in the long-run. We also show lower population growth has positive effects on the level of productivity, making the short-run welfare impacts ambiguous. In a quantitative application to the U.S, we find that the slowdown in population growth since the 1980s and the projected continuation of this trend accounts for a substantial share of the fall in the entry and exit rates and the increase in firm size. By contrast, the impact on markups is modest. The effect on aggregate growth is positive for around two decades, before turning negative thereafter.
主题	Labor Economics ; Demography and Aging ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Innovation and R& ; D ; Growth and Productivity
URL	https://www.nber.org/papers/w29424
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/587098
推荐引用方式 GB/T 7714	Michael Peters,Conor Walsh. Population Growth and Firm Dynamics. 2021.

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
w29424.pdf（1515KB）	智库出版物		限制开放	CC BY-NC-SA	浏览