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Firm agglomeration and aggregate fluctuations

Author

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  • Yoshihiro, HASHIGUCHI
  • Takayuki, HIGASHIKATA

Abstract

This study uses Indonesian plant-level manufacturing data from 2000 to 2014 to examine the role of individual firms located in agglomeration areas in generating aggregate fluctuations. While previous studies have used a method to decompose aggregate fluctuations into macroeconomic (sectoral) and firm-specific components, this paper illustrates an approach to further decompose the firm-specific component into higher and lower agglomeration groups. Our results suggest that plant-specific fluctuations in higher agglomeration areas have a greater impact on aggregate fluctuations than those in lower agglomeration areas, and the interaction or co-movements of plants in higher agglomerations areas have a significant role to drive aggregate fluctuations.

Suggested Citation

  • Yoshihiro, HASHIGUCHI & Takayuki, HIGASHIKATA, 2020. "Firm agglomeration and aggregate fluctuations," IDE Discussion Papers 786, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    • Handle: RePEc:jet:dpaper:dpaper786
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    File URL: https://ir.ide.go.jp/?action=repository_action_common_download&item_id=51749&item_no=1&attribute_id=22&file_no=1
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    More about this item

    Keywords

    Aggregate fluctuation; firm agglomeration; plant-level data; Indonesia; Business enterprises;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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