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Author: Jeremy Majerovitz Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This thesis consists of three chapters on empirical macroeconomics and development. Although the topics of study are diverse (one might say that small manufacturing firms in Indonesia and massive bank holding companies in the United States are half a world apart), they are tied together by the use of micro data and econometrics to study macro questions with important aggregate implications. These papers reflect a broader push to discipline macroeconomic models with credible empirical analysis. In Chapters 1 and 3, I do exactly this, combining theory and data to study aggregate productivity and the US banking sector, respectively. Chapter 2 instead focuses on getting the empirical analysis right: we make methodological contributions to improve a very common research design in macroeconomics and other fields. In Chapter 1, I study the importance of the selection channel for aggregate productivity: the process by which less efficient firms are driven out of the market by more efficient firms. Conventional wisdom suggests that markets in developing countries are more sclerotic, allowing inefficient firms to survive that would have exited in a developed country. I provide a tractable model to examine the importance of the selection channel, and show how to calibrate it to panel data on firms. I use this model to show that the effect of the selection channel on aggregate productivity is approximately equal to the average difference in log productivity between stayers and exiters, which can be measured easily in firm panel data. Results for Indonesia, Spain, Chile, and Colombia suggest that Indonesia could raise its aggregate productivity by roughly 30% if its firm exit process became as selective as Spain's. However, cross- country estimates suggest that the selection channel is not an important explanation for cross-country differences in output per capita.
Author: Jeremy Majerovitz Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This thesis consists of three chapters on empirical macroeconomics and development. Although the topics of study are diverse (one might say that small manufacturing firms in Indonesia and massive bank holding companies in the United States are half a world apart), they are tied together by the use of micro data and econometrics to study macro questions with important aggregate implications. These papers reflect a broader push to discipline macroeconomic models with credible empirical analysis. In Chapters 1 and 3, I do exactly this, combining theory and data to study aggregate productivity and the US banking sector, respectively. Chapter 2 instead focuses on getting the empirical analysis right: we make methodological contributions to improve a very common research design in macroeconomics and other fields. In Chapter 1, I study the importance of the selection channel for aggregate productivity: the process by which less efficient firms are driven out of the market by more efficient firms. Conventional wisdom suggests that markets in developing countries are more sclerotic, allowing inefficient firms to survive that would have exited in a developed country. I provide a tractable model to examine the importance of the selection channel, and show how to calibrate it to panel data on firms. I use this model to show that the effect of the selection channel on aggregate productivity is approximately equal to the average difference in log productivity between stayers and exiters, which can be measured easily in firm panel data. Results for Indonesia, Spain, Chile, and Colombia suggest that Indonesia could raise its aggregate productivity by roughly 30% if its firm exit process became as selective as Spain's. However, cross- country estimates suggest that the selection channel is not an important explanation for cross-country differences in output per capita.
Author: Lucas Bernard Publisher: Springer ISBN: 3319398873 Category : Business & Economics Languages : en Pages : 332
Book Description
This edited volume, with contributions by area experts, offers discussions on a range of evolving topics in economics and social development. At center are important issues central to sustainable development, economic growth, technological change, the economics of climate change, commodity markets, long wave theory, non-linear dynamic models, and boom-bust cycles. This is an excellent reference for academic and professional economists interested in emerging areas of empirical macroeconomics and finance. For policy makers and curious readers alike, it is also an outstanding introduction to the economic thinking of those who seek a holistic and all-compassing approach in economic theory and policy. Looking into new data and methodology, this book offers fresh approaches in a post-crisis environment. Set in a profound understanding of the diverse currents within the many traditions of economic thought, this book pushes the established frontiers of economic thinking. It is dedicated to a leading scholar in the areas covered in this book, Willi Semmler.
Author: Jeremy Majerovitz
Author: Jeremy Majerovitz
Author: Lennart Erickson
Author: Martina Hengge
Author: John Albert Simon
Author: Lucas Bernard
Author: John Stephen Shea
Author: Jae-ha Park
Author: Harun Mirza
Author: John Alexander Nelson Mondragon
Author: David Edward Runkle