Product Creation and Destruction: Evidence and Price Implications
Product Creation and Destruction: Evidence and Price Implications
复制标题
DOI：
10.1257/aer.100.3.691
复制
发表时间：
2010-06-01
影响因子：
10.7
通讯作者：
Weinstein, David E.
中科院分区：
文献类型：
--
作者：
Broda, Christian;Weinstein, David E.
本文描述了美国经济很大一部分产品创造和破坏的程度。我们发现产品市场的进入和退出数量是劳动力市场的四倍，因为大多数产品周转发生在公司内部。净产品创造具有很强的顺周期性，主要是由创造而不是破坏驱动的。我们发现，考虑到产品周转率的生活成本指数每年比 CPI 等“固定商品”价格指数低 0.8 个百分点。偏差的顺周期性意味着商业周期的波动性比官方统计数据显示的要大。
This paper describes the extent of product creation and destruction in a large sector of the US economy. We find four times more entry and exit in product markets than is found in labor markets because most product turnover happens within firms. Net product creation is strongly procyclical and primarily driven by creation rather than destruction. We find that a cost-of-living index that takes product turnover into account is 0.8 percentage points per year lower than a "fixed goods" price index like the CPI. The procyclicality of the bias implies that business cycles are more volatile than indicated by official statistics.