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Bernard, Andrew B.,
Stephen J. Redding, and
Peter K. Schott. 2010. "Multiple-Product Firms and Product Switching."
,
100(1): 70-97.
Show Article Details
DOI: 10.1257/aer.100.1.70
Abstract:This paper examines the frequency, pervasiveness, and determinants of product
switching by US manufacturing firms. We find that one-half of firms alter
their mix of five-digit SIC products every five years, that product switching is
correlated with both firm- and firm-product attributes, and that product adding
and dropping induce large changes in firm scope. The behavior we observe is
consistent with a natural generalization of existing theories of industry dynamics
that incorporates endogenous product selection within firms. Our findings
suggest that product switching contributes to a reallocation of resources within
firms toward their most efficient use. (JEL L11, L21, L25, L60)
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Appendix
Authors:
Bernard, Andrew B. (Dartmouth College)
Redding, Stephen J. (London School of Economics)
Schott, Peter K. (Yale U)
JEL Classifications:
L11: Production, Pricing, and Market Structure; Size Distribution of Firms
L21: Business Objectives of the Firm
L25: Firm Performance: Size, Diversification, and Scope
L60: Industry Studies: Manufacturing: General
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