Entry and exit, multi-product firms, and allocative distortions
Entry and exit, multi-product firms, and allocative distortions
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进入和退出、多产品企业和配置扭曲
DOI：
10.1596/1813-9450-8023
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发表时间：
2017
期刊：
影响因子：
--
通讯作者：
Roberto Naim
中科院分区：
文献类型：
--
作者：
Fattal Jaef;Roberto Naim
本文提出了一个多产品的企业动态模型，以了解配置扭曲的影响，企业进入，退出，并提供产品到市场的决定。这些调整幅度在文献中基本上被忽视，但对福利和生产力有直接贡献。本文发现，当分析帐户的这些渠道，传统的重点在全要素生产率的长期收益，从扭转配置不当严重低估了福利收益时，会计过渡动态。通过对1998年中国的扭曲进行校准，分析发现福利收益为32%，稳态收益为10%。
This paper proposes a multi-product model of firm dynamics to understand the implications of allocative distortions for the decisions of firms to enter, exit, and supply products to the market. These margins of adjustment have been largely neglected in the literature yet have direct contributions to welfare and productivity. The paper finds that when the analysis accounts for these channels, the traditional focus on long-run gains in Total Factor Productivity from reversing misallocation strongly underestimates the welfare gains that accrue when accounting for transitional dynamics. Calibrating the distortions to China in 1998, the analysis finds a welfare gain of 32 percent and a steady-state gain of 10 percent.