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December 10, 2009 | History

New goods and the size distribution of firms 1 edition

New goods and the size distribution of firms
Erzo Gerrit Jan Luttmer

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New goods and the size distribution of firms
Erzo G.J. Luttmer.

Published 2007 by Federal Reserve Bank of Minneapolis, Research Dept. in [Minneapolis, MN] .
Written in English.

About the Book

This paper describes a simple model of aggregate and firm growth based on the introduction of new goods. An incumbent firm can combine labor with blueprints for goods it already produces to develop new blueprints. Every worker in the economy is also a potential entrepreneur who can design a new blueprint from scratch and set up a new firm. The implied firm size distribution closely matches the fat tail observed in the data when the marginal entrepreneur is far out in the tail of the entrepreneurial skill distribution. The model produces a variance of firm growth that declines with size. But the decline is more rapid than suggested by the evidence. The model also predicts a new-firm entry rate equal to only 2.5% per annum, instead of the observed rate of 10% in U.S. data.

Edition Notes

Title from PDF file (viewed on June 22, 2007).

"January 2007."

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Series
Working paper / Federal Reserve Bank of Minneapolis, Research Dept -- 649

Classifications

Library of Congress
HB1

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL16362409M
LC Control Number
2007618514

History Created December 10, 2009 · 1 revision Download catalog record: RDF / JSON

December 10, 2009 Created by WorkBot add works page