Firm size and productivity from occupational choices Luis Medrano-Adán.pdf

该【Firm size and productivity from occupational choices Luis Medrano-Adán 】是由【司棋】上传分享，文档一共【25】页，该文档可以免费在线阅读，需要了解更多关于【Firm size and productivity from occupational choices Luis Medrano-Adán 】的内容，可以使用淘豆网的站内搜索功能，选择自己适合的文档，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此文档到您的设备，方便您编辑和打印。:..SmallBusEconhttps:///-018-0048-yupationalchoicesLuisMedrano-Adán&VicenteSalas-Fumás&-AsinAccepted:27March2018#SpringerScience+BusinessMedia,LLC,’totalfactorproductivity(TFP)-size-upationaldecisionsofdependentpoliciesindividualswithdifferententrepreneurialskills,ofworkingasemployees,employers,orsoloentrepre-(i)thepositivecross-sectioncorrelationbetweenav-eragesizeoffirmsandaveragelaborproductivityof1Introductioncountries,(ii)thepositiveassociationbetweensizeandTFPoffirmsinaneconomy,and(iii),e,anindicatorofthelevelofeconomicdevelop-anizationalsizediseconomiesment,andthedesignofpoliciestoclosethosegapsandotherrelatedtothedispersionofthedistributionof(convergence),appearasmainevidenceforapositiveassociationbetweentheaveragedeterminantsofthedifferencesinfirmsizesandineofcountrieshasproductivity,acrosseconomiesandamongfirmswithina-(theOECDandtheIMF)toestablishandinterestforthedesignandevaluationoffirm-size-,,theOECD(2014)andtheIMF(2015)-parativelysmallsizeofSpanishAcademiaGeneralMilitar,CUD(Zaragoza),,parativelylowpro-50090Zaragoza,SpainductivityoftheSpanisheconomy,seekingpolicyinitia-e-mail:******@--Fumás:-Asin(*),UniversityofZaragoza,í,Thispaperprovidesatheoreticalframework,based50005Zaragoza,upationalchoicee-mail:******@(Lucas1978;Jovanovic1994),-anizationofproduction,ande-mail:******@:..-(i)u-employer-managerandoftheaveragesizeofallfirmspationalchoice,thesoloentrepreneur,(ii)upiedintheeconomyisgiven(normalizedtooneanizationofjobsandhier-inthemodel),thetotaloutputproducedisameasureofarchicallevelsoffirmsaspartoftheproductiontech-laborproductivity,.,,andincludes(theself-employed,withandwithoutemployees),thethecontributionsofsoloentrepreneurstototalemploy-averagesizeoffirms,andoutputpercapitaareallmentandoutput,-Therelevanceandcontributionofthepaperisjusti-neurshipratesandaveragesizeoffirmsandlaborpro-fied,first,bytheimportanceoffirm-size-dependentductivitycanexist;alltheendogenousvariablesarepolicesandofentrepreneurialenhancementpoliciesofdeterminedbythevaluesoftheexogenousparameters,countriesaroundtheworld,,especiallytheexclusionoftheAfterthecharacterizationoftheequilibriumwecon-,parativestaticaroundthemarketequilibriumthepositiveassociationbetweenaveragesizeoffirmssolution,.,howtherelevantendogenousvariablesofeofcountries(iathemodel—distributionoffirmsize,entrepreneurship2016)patiblewiththefindingsofotherrates,andtotaloutputproduced—respondtochangesinresearchonavarietyofnon-anizationalsizedisecon-epercapitaofcoun-omiesandcapitalintensityoftheproductiontechnolo-tries,relationshipswhicharesometimesconvex(Carreegy,costofcapital,,2007;;Gollin2008)andthepopulation,(vanPraagandvanStel2013).Iffirms,totaloutput,upationalgroupsareeachentrepreneurownsandmanagesonefirm,thenthehighlysensibletodifferencesinthevaluesofparametersanizationalsizediseconomiesanddispersionofisaninversemeasureoftheaveragesizeoffirmsand,,forthosetwoexoge-beconsistentwithotherempiricalresults,entrepreneur-nousparameters,andforpracticallyalltherest,,wecantraceecandiffer,dependingonwhethersolotheempiricalregularityonsizeoffirmspositivelycor-eofcountriestocross-self-employed,orwhetherallself-employed,withandcountrydifferencesinthevaluesoftheparametersofwithoutemployees,,wecalibratetheparametersofthemodelwithIntermsoftheory,upationalgroupsandfunctionoffirmsastheaggregateoutputfromproduc-paringthepre-,,wethatthecalibratedmodelcanexplainreasonablywellthee-,weupationalchoicemodelstodifferentskills,workingasemployees,assoloself-explainandunderstandwhythesizedistributionofemployed,andasemployer--,wefocusontheparativelygroupandthedistributionoffirmsizes,forexample,lowproductivityandsmallsizesofSpanishfirms,and:..,,anizationalsizesectiondiscussesourmainresultsinthecontextofthediseconomies(),andlowerdisper--paredtotheUSA,canexplaindifferencesinaverage2Relatedliteratureandextensionssizeoffirmsandproductivitybetweenthetwocoun--servedcross-sectioncorrelationbetweenaveragesizeofLucas(1978)wasthefirsttoestablisharelationshipeofcountries(eofia2016).economies,upationalchoicemodels:inecon-Finally,weshowthatthedistributionofTFPofomieswheretheelasticityofsubstitutionbetweenlaborfirmsinaneconomyisamonotonictransformationandcapitalinproductionislowerthanone,greaterofthedistributionofentrepreneurialskillsinthecapitaldeepeningwillincreaseboththeaveragesizeofoccupationalgroupofemployers-,inathemodelalsopredictsthat,upationalcrosssectionofcountrieswithdifferentlevelsofchoiceequilibrium,entrepreneursthataremorecapital,apositiveassociationisexpectedbetweenperskilledwillmanagelargerfirms,(IdsonUSAeconomywillincreasecapitalintensityovertime,andOi1999;HsiehandKlenow2009,2014;therelativeshareofoutputfromlargefirmsandtheSyverson2011).Inaddition,wefindthatthedistri-averagelaborproductivitywillbothincreaseovertimebutionoffirmsizesissimplyapowertransforma-,theempiricalevidenceindicatesthattheskills,withlowerboundinthenumberofemployeesrelativeimportanceofsmallandlargefirmsdoesnotequaltothatemployedbytheentrepreneurwithshowalineartrendovertime,andthatcountrieswithskillsthatmakeherindifferentbetweenworkingassimilareconomicdevelopmentcontinuetohaveperma-soloself-employedorasemployer--lawdistribution(Axtell2001;Gabaix2016),aswellthermore,Lucas(1978)upationalasinclarifyingtheoriginoftheBmissingmiddle^choicemodelsignorethesoloself-employedasathird(HsiehandOlken2014),upationalchoice(Salas-Fumá),andalsorelevanttothedesignoffirm-size-anizeinternal-—forexample,(Penrose1959;CalvoandWellisz1980;RosenSection2containsareviewoftherelatedliteratureand1982),’,particularlythepro-anizationofproductionandcontrolwithinductionfunctionofsoloentrepreneursandemployers,-Followingtheliterature,thequalityofstrategicdeci-(betterorworsedecisionsmodel,parisonofpredictedandobserveddistri-affecttheproductivityofallresourceinputs).However,butionoffirmsizesinSpain,,,inthecontextofthemodel,thata:..-,andBranstetteretal.(2014)-countrydifferencesinreturnsduetotheinternalcostsofgrowthresultingfromtheaveragesizeoffirmsandinlaborproductivityani-ur,evenamongfree-marketeconomies,zations(Penrose1959;CalvoandWellisz1980).Thewheneconomiesdifferinthedistributionofentre-factthatthelimitstothesizeandgrowthoffirmshavetopreneurialskills,productiontechnology,andman--employedindividualsisequilibriumrelativelyhighinmanyeconomies(inSpain,%upiedpersonsinThissectiondescribesthejointproductioninvolvingthemarketeconomy—withtheexclusionofagricul-directlabor,capitalservices,andinputsfromentrepre-ture—twicetheproportionofemployers)andtheneurs,u-pleteifsolopationalchoiceofindividualswhodifferintheirentre-self--,thenegativeassociationbetweenpercapitaeofcountriesandentrepreneurship-self-employmentrates,observedwhenallself-(Blanchflower2004;Gollin2008),-employmentissplitintosoloentrepreneursoperateindependently,occupiedbyasoloentrepreneur,andemployers,sothatitappliesonlytotherateofortheycanbegroupedinfirmsunderthehierarchicalsoloentrepreneurs(Salas-Fumá).Thedirectionofanentrepreneur-,explanationofthedistributionoffirmsizesseparat-thereisonlyonefinalgoodwithsellingpricenormal-,contributemorethanothersdotooutputandthethecapital,(Shane2009;AsinLucas(1978)andRosen(1982),inputsfromParker2009).theentrepreneurenterintotheproductionfunctionto--stageprocess:first,wedefine