Firm size dynamics in the aggregate economy
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Author
Contributions
- Wright, Mark L. J. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2005 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
11,000 words, Guess
Page Count
44 pages
Identifiers
- OCLC Control Number60314926
- Open LibraryOL17625836M
Description
"Why do firm growth and exit rates decline with size? What determines the size distribution of firms? This paper presents a theory of firm dynamics that simultaneously rationalizes the basic facts on firm growth, exit, and size distributions. The theory emphasizes the accumulation of industry specific human capital in response to industry specific productivity shocks. The theory implies that firm growth and exit rates should decline faster with size, and the size distribution should have thinner tails, in sectors that use human capital less intensively, or correspondingly, physical capital more intensively. In line with the theory, we document substantial sectoral heterogeneity in US firm dynamics and firm size distributions, which is well explained by variation in physical capital intensities"--National Bureau of Economic Research web site.
Subjects
Topics
Series Statement
- NBER working paper series -- no. 11261.
- Working paper series (National Bureau of Economic Research) -- working paper no. 11261.
Links
Other Editions
- Firm size dynamics in the aggregate economy
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