首页    期刊浏览 2024年12月11日 星期三
登录注册

文章基本信息

  • 标题:Entry, Exit, and Plant-Level Dynamics over the Business Cycle
  • 作者:Yoonsoo Lee ; Toshihiko Mukoyama
  • 期刊名称:Discussion Paper / U.S. Census Bureau, Center for Economic Studies
  • 出版年度:2008
  • 卷号:2008
  • 出版社:U.S. Census Bureau
  • 摘要:This paper analyzes the implications of plant-level dynamics over the business cycle. We first document basic patterns of entry and exit of U.S. manufacturing plants, in terms of employment and productivity, between 1972 and 1997. We show how entry and exit patterns vary during the business cycle, and that the cyclical pattern of entry is very different from the cyclical pattern of exit. Second, we build a general equilibrium model of plant entry, exit, and employment and compare its predictions to the data. In our model, plants enter and exit endogenously, and the size and productivity of entering and exiting plants are also determined endogenously. Finally, we explore the policy implications of the model. Imposing a firing tax that is constant over time can destabilize the economy by causing fluctuations in the entry rate. Entry subsidies are found to be effective in stabilizing the entry rate and output.
Loading...
联系我们|关于我们|网站声明
国家哲学社会科学文献中心版权所有