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Firm Performance And Evolution Empirical Regularities In The U.S. Microdata

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Author Info
Robert H Mcguckin
Bradford J Jensen

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Abstract

This paper presents a view of firm performance, industry evolution, and economic growth that contrasts with the traditional representative firm model. The paper reviews recent empirical work, primarily studies using the Longitudinal Research Database (LRD), that explicitly focuses on individual business units. The major empirical regularity in the studies is that heterogeneity is pervasive -- it is found across and within all sectors and across all plant characteristics. Further, firms are not only different in the cross-section. They enter at different times, make different choices, and react differently to economic shocks. Thus, to understand economic performance and competition, one must move beyond representative firm models. Competition must be understood as a process in which some firms choose correctly and grow while other firms choose poorly and die; the growth of the successful firms at the expense of less successful rivals drives economic growth.

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File URL: http://www.ces.census.gov/index.php/ces/cespapers?down_key=100246
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Paper provided by Center for Economic Studies, U.S. Census Bureau in its series Working Papers with number 96-10.

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Date of creation: Oct 1996
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Handle: RePEc:cen:wpaper:96-10

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Related research
Keywords: CES; economic; research; micro; data; microdata; chief; economist;

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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. Robert H Mcguckin & George A Pascoe, 1988. "The Longitudinal Research Database (LRD): Status And Research Possibilities," Working Papers 88-2, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  2. Alfred R Nucci & Timothy Bates, 1990. "An Analysis of Small Business Size and Rate of Discontinuance," Working Papers 90-2, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  3. Robert H Mcguckin & Suzanne Peck, 1992. "Manufacturing Establishments Reclassified Into New Industries: The Effect Of Survey Design Rules," Working Papers 92-14, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  4. Dunne, Timothy & Roberts, Mark J & Samuelson, Larry, 1989. "The Growth and Failure of U.S. Manufacturing Plants," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 671-98, November. [Downloadable!] (restricted)
    Other versions:
  5. Michael Gort & Rao Singamsetti, 1976. "Concentration and Profit Rates: New Evidence on an Old Issue," NBER Chapters, in: Explorations in Economic Research, Volume 3, number 1, pages 1-20 National Bureau of Economic Research, Inc. [Downloadable!]
  6. G. Steven Olley & Ariel Pakes, 1992. "The Dynamics of Productivity in the Telecommunications Equipment Industry," NBER Working Papers 3977, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Douglas W Dwyer, 1995. "Whittling Away At Productivity Dispersion," Working Papers 95-5, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  8. Dunne, Timothy & Schmitz, James A, Jr, 1995. "Wages, Employment Structure and Employer Size-Wage Premia: Their Relationship to Advanced-Technology Usage at US Manufacturing Establishments," Economica, London School of Economics and Political Science, vol. 62(245), pages 89-107, February. [Downloadable!] (restricted)
  9. John Baldwin & Timothy Dunne & John Haltiwanger, 1994. "A Comparison of Job Creation and Job Destruction in Canada and the United States," NBER Working Papers 4726, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Martin N. Baily & Eric J. Bartelsman & John Haltiwanger, 1994. "Downsizing and productivity growth: myth or reality?," Finance and Economics Discussion Series 94-7, Board of Governors of the Federal Reserve System (U.S.).
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  11. Mark E. Doms & Timothy Dunne, 1998. "Capital Adjustment Patterns in Manufacturing Plants," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(2), pages 409-429, April. [Downloadable!] (restricted)
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  12. Hall, Bronwyn H, 1987. "The Relationship between Firm Size and Firm Growth in the U.S. Manufacturing Sector," Journal of Industrial Economics, Blackwell Publishing, vol. 35(4), pages 583-606, June. [Downloadable!] (restricted)
    Other versions:
  13. Cohen, Wesley M. & Levin, Richard C., 1989. "Empirical studies of innovation and market structure," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 18, pages 1059-1107 Elsevier. [Downloadable!] (restricted)
  14. Olley, G Steven & Pakes, Ariel, 1996. "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, Econometric Society, vol. 64(6), pages 1263-97, November. [Downloadable!] (restricted)
  15. Doms, Mark & Dunne, Timothy & Troske, Kenneth R, 1997. "Workers, Wages, and Technology," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 253-90, February.
  16. Ricardo J. Caballero, 1997. "Aggregate Investment," NBER Working Papers 6264, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  17. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May. [Downloadable!] (restricted)
  18. Timothy Dunne & James A Schmitz Jr., 1992. "Wages, Employer Size-Wage Premia and Employment Structure: Their Relationship to Advanced-Technology Usage at U.S. Manufacturing Establishments," Working Papers 92-15, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  19. Ariel Pakes & Richard Ericson, 1989. "Empirical Implications of Alternative Models of Firm Dynamics," NBER Working Papers 2893, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  20. Davis, Steven J & Haltiwanger, John C, 1992. "Gross Job Creation, Gross Job Destruction, and Employment Reallocation," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 819-63, August. [Downloadable!] (restricted)
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  21. Kenneth R Troske, 1995. "The Worker-Establishment Characteristics Database," Working Papers 95-10, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
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  22. Doms, Mark & Dunne, Timothy & Roberts, Mark J., 1995. "The role of technology use in the survival and growth of manufacturing plants," International Journal of Industrial Organization, Elsevier, vol. 13(4), pages 523-542, December. [Downloadable!] (restricted)
  23. Schmalensee, Richard, 1989. "Inter-industry studies of structure and performance," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009 Elsevier. [Downloadable!] (restricted)
    Other versions:
  24. Ricardo J. Caballero & Eduardo M. R. A. Engel & John C. Haltiwanger, 1995. "Plant-Level Adjustment and Aggregate Investment Dynamics," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1995-2), pages 1-54. [Downloadable!]
  25. McGuckin, Robert H, 1995. "Establishment Microdata for Economic Research and Policy Analysis: Looking beyond the Aggregates," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(1), pages 121-26, January.
  26. Dunne, T. & Roberts, M.J., 1989. "Variation In Producer Turnover Across U.S. Manufacturing Industries," Papers 12-89-2, Pennsylvania State - Department of Economics.
  27. Robert H Mcguckin & Mary L Streitwieser & Mark E Doms, 1996. "The Effect Of Technology Use On Productivity Growth," Working Papers 96-2, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  28. Ron Jarmin, 1995. "Using Matched Client And Census Data To Evaluate The Performance Of The Manufacturing Extension Partnership," Working Papers 95-7, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  29. Evans, David S, 1987. "The Relationship between Firm Growth, Size, and Age: Estimates for 100 Manufacturing Industries," Journal of Industrial Economics, Blackwell Publishing, vol. 35(4), pages 567-81, June. [Downloadable!] (restricted)
    Other versions:
  30. Bradford J Jensen & Andrew B Bernard, 1994. "Exporters, Skill Upgrading And The Wage Gap," Working Papers 94-13, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
    Other versions:
  31. Laura Power, 1995. "The Missing Link: Technology, Productivity, and Investment," Working Papers 95-12, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
Full references

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. O. Marsili, 2000. "Sources of Concentration and Turbulence in Evolutionary Environments: Simulations of Learning and Selection," ECIS Working Papers 00.14, Eindhoven Centre for Innovation Studies, Eindhoven University of Technology. [Downloadable!]
  2. J. Bradford Jensen & Robert H. McGuckin & Kevin Stiroh, 2000. "The Impact of Vintage and Survival on Productivity: Evidence from Cohorts of U.S. Manufacturing Plants," Economics Program Working Papers 00-01, The Conference Board, Economics Program. [Downloadable!]
    Other versions:
  3. Sean M. Dougherty & Robert H. McGuckin, 2004. "The Effects of Federalism and Privatization on Productivity in Chinese Firms," Development and Comp Systems 0411016, EconWPA. [Downloadable!]
    Other versions:
  4. David R Merrell, 1999. "Productivity And Acquisitions In U.S. Coal Mining," Working Papers 99-17, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  5. S.G. Winter & Y.M. Kaniovski & G. Dosi, 1997. "A Baseline Model of Industry Evolution," Working Papers ir97013, International Institute for Applied Systems Analysis. [Downloadable!]
    Other versions:
  6. Robert H. McGuckin & Kevin Stiroh, 2000. "Computers and Productivity: Are Aggregation Effects Important?," Economics Program Working Papers 00-03, The Conference Board, Economics Program. [Downloadable!]
  7. Mark Freel, 2007. "Are Small Innovators Credit Rationed?," Small Business Economics, Springer, vol. 28(1), pages 23-35, January. [Downloadable!] (restricted)
  8. Alfred Haid & Markus Thomas Münter, 1999. "Neuere Entwicklungen in der industrieökonomischen Forschung und die aktuelle Berichterstattung über die technologische Leistungsfähigkeit Deutschlands," Discussion Papers of DIW Berlin 188, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  9. Bradford J Jensen & Ron Jarmin, 1997. "Measuring The Performance Of Government Technology Programs: Lessons From Manufacturing Extension," Working Papers 97-18, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
  10. Jason Barr, 2007. "Charter School Performance in New Jersey," Working Papers Rutgers University, Newark 2007-006, Department of Economics, Rutgers University, Newark. [Downloadable!]
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