IDEAS home Printed from https://ideas.repec.org/a/oup/indcch/v31y2022i2p464-499..html
   My bibliography  Save this article

Being small at the right moment: Path dependence after a shift in the technological regime
[What Happened to U.S. Business Dynamism? Working Paper 25756]

Author

Listed:
  • Jasper Hepp

Abstract

This paper explores the impact of technological change on industry concentration and the underlying firm dynamics. Within the agent-based model EURACE@Unibi, it is shown that an exogenous acceleration in technological change in the capital goods sector leads to a diverging firm population in the downstream consumption goods sector in terms of productivities and skills and in turn also to a higher market concentration. A novel ex-post analysis at the micro level shows that the later dominant firms were relatively small at the beginning but benefited from a virtuous cycle between their capital choice and the skill level within their workforce that is initiated by a fortunate outcome on the labor market.

Suggested Citation

  • Jasper Hepp, 2022. "Being small at the right moment: Path dependence after a shift in the technological regime [What Happened to U.S. Business Dynamism? Working Paper 25756]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(2), pages 464-499.
    • Handle: RePEc:oup:indcch:v:31:y:2022:i:2:p:464-499.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/icc/dtac001
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:indcch:v:31:y:2022:i:2:p:464-499.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/icc .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.