摘要翻译:
本文表明,企业规模分布的幂律性质是对企业动力学标准进入-退出模型的鲁棒预测。只需要一个变化:企业生产率低于特定上限的通常限制被取消。我们证明,经过这个小的修改,分布的帕累托尾是在一个广泛的和经验上可信的规范类下预测的,用于企业层面的生产率增长。在企业规模无界的情况下,我们给出了进入-退出模型呈现唯一平稳递归均衡的充要条件。
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英文标题:
《Power Laws without Gibrat's Law》
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作者:
John Stachurski
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最新提交年份:
2019
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分类信息:
一级分类:Economics 经济学
二级分类:General Economics 一般经济学
分类描述:General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类:Quantitative Finance 数量金融学
二级分类:Economics 经济学
分类描述:q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学,包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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英文摘要:
This paper shows that the power law property of the firm size distribution is a robust prediction of the standard entry-exit model of firm dynamics. Only one variation is required: the usual restriction that firm productivity lies below an ad hoc upper bound is dropped. We prove that, after this small modification, the Pareto tail of the distribution is predicted under a wide and empirically plausible class of specifications for firm-level productivity growth. We also provide necessary and sufficient conditions under which the entry-exit model exhibits a unique stationary recursive equilibrium in the setting where firm size is unbounded.
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PDF链接:
https://arxiv.org/pdf/1910.14023