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The Role of Firms in Economic Development

Paper Session

Saturday, Jan. 5, 2019 8:00 AM - 10:00 AM

Atlanta Marriott Marquis, A707
Hosted By: Korea-America Economic Association
  • Chair: Yongseok Shin, Washington University-St. Louis

Business Groups and Economic Growth

Chang-Tai Hsieh
,
University of Chicago
Munseob Lee
,
University of California-San Diego
Yongseok Shin
,
Washington University-St. Louis

Abstract

TBA

Networks, Bottlenecks and Market Power

Vasco Carvalho
,
University of Cambridge
Matthew Elliott
,
University of Cambridge
John Spray
,
University of Cambridge

Abstract

TBA

Big Push, Distortions, and Economic Development

Francisco Buera
,
Washington University-St. Louis
Nicholas Trachter
,
Federal Reserve Bank of Richmond
Yongseok Shin
,
Washington University-St. Louis

Abstract

TBA

Labor Market Allocation, Human Capital and Development: Evidence from Germany’s Reunification

Wolfgang Dauth
,
University of Wurzburg
Sebastian Findeisen
,
University of Mannheim
Sang Yoon Lee
,
Queen Mary University of London
Tommaso Porzio
,
University of California-San Diego

Abstract

TBA

Transitional Dynamics in Aggregate Models of Innovative Investments

Andrew Atkeson
,
University of California-Los Angeles
Ariel Burstein
,
University of California-Los Angeles
Manolis Chatzikonstantinou
,
University of California-Los Angeles

Abstract

What quantitative lessons can we learn from models of endogenous technical change through innovative investments by firms for the impact of changes in the economic environment on the dynamics of aggregate productivity in the short, medium, and long run? We present a unifying model that nests a number of canonical models in the literature and characterize their positive implications for the transitional dynamics of aggregate productivity and their welfare implications in terms of two sufficient statistics. We review the current state of measurement of these two sufficient statistics and discuss the range of positive and normative quantitative implications of our model for a wide array of counterfactual experiments, including the link between a decline in the entry rate of new firms and a slowdown in the growth of aggregate productivity given that measurement. We conclude with a summary of the lessons learned from our analysis to help direct future research aimed at building models of endogenous productivity growth useful for quantitative analysis.
JEL Classifications
  • L1 - Market Structure, Firm Strategy, and Market Performance
  • O4 - Economic Growth and Aggregate Productivity