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Innovaciones en productividad y dinámica de plantas

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Author Info
Raphael Bergoeing () (Universidad de Chile)
Facundo Piguillem (Cámara Chilena de la Construcción)

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Abstract

The recent empirical evidence shows that plant level dynamics are relevant to explain economic growth. The reallocation of resources across incumbent plants, and the process of entry and exit of plants account for a quantitatively relevant fraction of changes in total factor productivity; aggregate efficiency in turns is the main source of the observed changes in aggregate growth. In this paper we build a stochastic general equilibrium model with heterogeneous plants to study the effect on plant decisions of idiosyncratic and aggregate productivity shocks. Parameterizing the model to represent a developing economy, we analyze the effect of productivity changes on several key macroeconomic variables. Our numerical simulations show that the model accounts for the observed regularities. The model can also be used to study several additional issues related to both, business cycle and long run income levels.

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Publisher Info
Article provided by Ilades-Georgetown University, Economics Department in its journal Revista de Analisis Economico.

Volume (Year): 18 (2003)
Issue (Month): 2 (December)
Pages: 3-32
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Handle: RePEc:ila:anaeco:v:18:y:2003:i:2:p:3-32

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Related research
Keywords: plant level dynamics economic growth aggregate efficiency

Find related papers by JEL classification:
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Raphael Bergoeing & Andrés Hernando & Andrea Repetto, 2003. "Idiosyncratic Productivity Shocks and Plant-Level Heterogeneity," Documentos de Trabajo 173, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
  2. Rogerson, Richard, 1988. "Indivisible labor, lotteries and equilibrium," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 3-16, January. [Downloadable!] (restricted)
  3. Julio J. Rotemberg & Michael Woodford, 1993. "Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets," NBER Working Papers 4502, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Lawrence J. Christiano, 1998. "Solving Dynamic Equilibrium Models by a Method of Undetermined Coefficients," NBER Technical Working Papers 0225, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May. [Downloadable!] (restricted)
  6. D Blanchflower & S Burgess, 1996. "Job Creation and Job Destruction in Great Britain in the 1980s," CEP Discussion Papers 0287, Centre for Economic Performance, LSE.
    Other versions:
  7. Jeffrey Campbell, 1998. "Entry, Exit, Embodied Technology, and Business Cycles," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 371-408, April. [Downloadable!] (restricted)
    Other versions:
  8. Hansen, Gary D., 1985. "Indivisible labor and the business cycle," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 309-327, November. [Downloadable!] (restricted)
  9. Sanghoon Ahn, 2001. "Firm Dynamics and Productivity Growth: A Review of Micro Evidence from OECD Countries," OECD Economics Department Working Papers 297, OECD Economics Department. [Downloadable!]
  10. Ricardo J. Caballero & Eduardo M.R.A. Engel, 1996. "Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach," Documentos de Trabajo 12, Centro de Economía Aplicada, Universidad de Chile.
    Other versions:
  11. Lucas Navarro & Raimundo Soto, 2001. "Procyclical productivity : evidence from an emerging economy," Working Papers Central Bank of Chile 109, Central Bank of Chile. [Downloadable!]
  12. Raphael Bergoeing & Raimundo Soto, 2002. "Testing Real Business Cycle Models in an Emerging Economy," Documentos de Trabajo 126, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
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  13. Raphael Bergoeing & Patrick J. Kehoe & Timothy J. Kehoe & Raimundo Soto, 2002. "Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s," NBER Working Papers 8892, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Hopenhayn, Hugo A, 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica, Econometric Society, vol. 60(5), pages 1127-50, September. [Downloadable!] (restricted)
  15. Ricardo J. Caballero & Mohamad L. Hammour, 1994. "On the Timing and Efficiency of Creative Destruction," NBER Working Papers 4768, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ruy Lama & Juan Pablo Medina, 2004. "Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices," Working Papers Central Bank of Chile 286, Central Bank of Chile. [Downloadable!]
    Other versions:
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