Establishment size dynamics in the aggregate economy

• 成果类型: Article
• 署名作者: Rossi-Hansberg, Esteban; Wright, Mark L. J.
• 署名单位: Princeton University; University of California System; University of California Los Angeles
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.97.5.1639
• 发表日期: 2007
• 页码: 1639-1666
• 关键词: CANADIAN MANUFACTURING-INDUSTRIES; firm dynamics; developing-countries; GROWTH; entry; LAW; determinants; ORGANIZATION; INNOVATION; turnover

摘要

This paper presents a theory of establishment size dynamics based on the accumulation of industry-specific human capital that simultaneously rationalizes the economy-wide facts on establishment growth rates, exit rates, and size distributions. The theory predicts that establishment growth and net exit rates should decline faster with size, and that the establishment size distribution should have thinner tails, in sectors that use specific human capital less intensively. We establish that there is substantial cross-sector heterogeneity in US establishment size dynamics and distributions, which is well explained by relative factor intensities.