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| Author | : Mr.JaeBin Ahn |
| Publisher | : International Monetary Fund |
| Total Pages | : 32 |
| Release | : 2016-08-05 |
| Genre | : Business & Economics |
| ISBN | : 1475523580 |
Download From Firm-Level Imports to Aggregate Productivity Book in PDF, ePub and Kindle
Using the Korean manufacturing firm-level data, this paper confirms that three stylized facts on importing hold in Korea: the ratio of imported inputs in total inputs tends to be procyclical; the use of imported inputs increases productivity; and larger firms are more likely to use imported inputs. As a result, we find that firm-level import decisions explain a non-trivial fraction of aggregate productivity fluctuations in Korea over the period between 2006 and 2012. Main findings of this paper suggest a possible link between the recent global productivity slowdown and the global trade slowdown.
| Author | : Ali Dogramaci |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 200 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 9400981236 |
Download Aggregate and Industry-Level Productivity Analyses Book in PDF, ePub and Kindle
1 Ali Dogramaci and Nabil R. Adam 1.1. OVERVIEW With the decline of U.S. productivity growth, interest has surged to under stand the behavior of productivity measures through time, the conceptual foundations of productivity analysis, and the linkage between productivity performance and other major forces in the economy. The purpose of this volume is to present a brief overview of some of the concepts used in aggre gate and industry-level productivity analyses and the results of some of the recent research in this field. The book is divided into three parts. Part I covers some of the methodo logical approaches used in aggregate and industry-level productivity studies. Part II deals with the movement of labor productivity measures through time. The papers in this part of the book study productivity changes as uni variate time series and analyze some of the characteristics of the patterns displayed. The papers in Part III address the issues of measurement of capi tal, the relation of capital formation to productivity growth, and the rela tion of imported intermediate inputs to U.S. productivity performance.
| Author | : Rory Mullen |
| Publisher | : |
| Total Pages | : 121 |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
Download Essays on Firm-level and Aggregate Productivity and Risk Book in PDF, ePub and Kindle
In chapter one I study pairwise covariances of firm-level productivity, sales, and profit growth rates for public firms in the United States. The data suggest that pairwise covariances of firm growth rates drive the variance of aggregate growth rates in all three variables. High-productivity firms contribute most to aggregate variance in absolute terms, but least per dollar of market value-which may explain why investors demand lower returns from high-productivity firms. A tractable DSGE model helps explain the evidence on firm-level covariance endogenously. In the model, a firm's expected excess stock returns increase as the firm's productivity covaries more with aggregate productivity, relative to the firm's market value. In chapter two, coauthored with Daisoon Kim, we ask where fluctuations in aggregate productivity come from, and what role markups and scale economies play in transmitting fluctuations in firm productivity to aggregate productivity. We develop an empirical framework that decomposes TFP into industry, peer, firm, and entry-exit components. We aggregate these components using a new approximate expression for aggregate TFP that lets us investigate explicitly the role of markups and scale economies in transmitting firm TFP innovations to aggregate TFP. In an application using data on public firms, we find that innovations to the firm-specific component of firm TFP drive most fluctuations in firm TFP, while innovations to the industry component drive most fluctuations in aggregate TFP. Innovations to the peer component appear to play a modest role.
| Author | : Rui Xu |
| Publisher | : International Monetary Fund |
| Total Pages | : 44 |
| Release | : 2017-11-16 |
| Genre | : Business & Economics |
| ISBN | : 1484326008 |
Download Does Import Competition Induce R&D Reallocation? Evidence from the U.S. Book in PDF, ePub and Kindle
We analyze the impact of rising import competition from China on U.S. innovative activities. Using Compustat data, we find that import competition induces R&D expenditures to be reallocated towards more productive and more profitable firms within each industry. Such reallocation effect has the potential to offset the average drop in firm-level R&D identified in the previous literature. Indeed, our quantitative analysis shows no adverse impact of import competition on aggregate R&D expenditures. Taking the analysis beyond manufacturing, we find that import competition has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.
| Author | : |
| Publisher | : DIANE Publishing |
| Total Pages | : 94 |
| Release | : |
| Genre | : |
| ISBN | : 1437941621 |
Download OffShoring Bias in U.S. Manufacturing: Implications for Productivity and Value Added Book in PDF, ePub and Kindle
| Author | : Gita Gopinath |
| Publisher | : |
| Total Pages | : 58 |
| Release | : 2011 |
| Genre | : Argentina |
| ISBN | : |
Download Trade Adjustment and Productivity in Large Crises Book in PDF, ePub and Kindle
Abstract: We empirically characterize the mechanics of trade adjustment during the Argentine crisis using detailed firm-level customs data covering the universe of import transactions during 1996-2008. Our main findings are as follows: First, the extensive margin defined as the entry and exit of firms or of products (at the country level) plays a small role during the crisis. Second, the sub-extensive margin defined as the churning of inputs within firms plays a sizeable role in aggregate adjustment. This implies that the true increase in input costs exceeds that imputed from conventional price indices. Third, the relative importance of these margins and of overall trade adjustment varies with firm size. Motivated by these facts, we build a model of trade in intermediate inputs with heterogenous firms, fixed import costs, and round-about production to evaluate the channels through which a collapse in imports effects TFP in manufacturing. Measured aggregate productivity in the sector depends on within-firm adjustments to the varieties imported as well as the joint distribution of each firm's technology and the share of imports in its total spending on inputs. We simulate an imported input cost shock and show that these mechanisms can deliver quantitatively significant declines in manufacturing TFP
| Author | : Mr.JaeBin Ahn |
| Publisher | : International Monetary Fund |
| Total Pages | : 13 |
| Release | : 2017-05-23 |
| Genre | : Business & Economics |
| ISBN | : 1475595832 |
Download Trading with China Book in PDF, ePub and Kindle
We analyze the impact on productivity in advanced economies of fast-growing trade with China between the mid-1990s and late-2000s, separately identifying the export and import channels. We use country-sector-level data for 18 advanced economies and, similar to Autor, Dorn, and Hanson (2013), exploit exogenous variation in trade with China in a given country-sector by instrumenting imports from (exports to) China in a given country-sector with the average imports from (exports to) China in the same sector in other advanced economies. Our estimates point to large productivity gains from trading with China—the (exogenous) rise of China in global trade may have increased the level of total factor productivity by about 1.9 percent, or 12.3 percent of the overall increase over the sample period, in the median country-sector. By contrast, using a similar empirical strategy, we find adverse employment effects of Chinese imports in exposed country-industries, consistent with previous studies. Taken together, these findings point to large gains from free trade, while underscoring the scope for a more active policy role in redistributing them, particularly by easing workers’ transition between jobs and industries.
| Author | : Sandra Ospina |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 2010-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1451982119 |
Download Competition and Firm Productivity Book in PDF, ePub and Kindle
This paper presents empirical evidence on the impact of competition on firm productivity. Using firm-level observations from the World Bank Enterprise Survey database, we find a positive and robust causal relationship between our proxies for competition and our measures of productivity. We also find that countries that implemented product-market reforms had a more pronounced increase in competition, and correspondingly, in productivity: the contribution to productivity growth due to competition spurred by product-market reforms is around 12-15 percent.
| Author | : Mirabelle Muûls |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
Download Imports and Exports at the Level of the Firm Book in PDF, ePub and Kindle
This paper explores a newly available panel dataset merging balance sheet and international trade transaction data for Belgium. Both imports and exports appear to be highly concentrated among few firms and seem to have become more so over time. Focusing on manufacturing, we find that facts previously reported in the literature as applying only to exports actually apply to imports too. We note that the number of trading firms diminishes as the number of export destinations or import origins increases. The same is true if we consider the number of products traded. Our results generally point to a process of self-selection in both export and import markets. Also, the productivity advantage of exporters reported in the literature may be overstated because imports were not considered. We find that firms that both import and export are the most productive, followed, in descending order, by importers only, exporters only and non-traders. Our results also show the existence of fixed costs of imports, which appear to be of similar magnitude as those of exports.
| Author | : Hang T. Banh |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2020-07-03 |
| Genre | : Business & Economics |
| ISBN | : 1513542303 |
Download Global Value Chains and Productivity: Micro Evidence from Estonia Book in PDF, ePub and Kindle
The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of components vital to everything from health systems to everyday household goods. Despite the vulnerabilities associated with increased interconnectedness, GVCs have also contributed to increasing productivity and long-term growth. We explore empirically the impact of GVC participation on productivity in Estonia using firm-level data from 2000 to 2016. We find that higher GVC participation at the industry level significantly boosts productivity at both the industry and the firm level. Frontier firms, large firms, and exporting firms also benefit more from GVC participation than non-frontier firms, small firms, and non-exporting firms. We also find that GVC participation of downstream industries has a negative correlation with productivity. Frontier firms and large firms benefit more from GVC participation of upstream industries, while non-frontier firms and small firms benefit more from GVC participation of downstream industries. Our results suggest that policies designed to promote participation in GVCs are important to raise aggregate productivity and potential growth in Estonia.
