This paper proposes a multi-product model of firm dynamics to understand the implications of allocative distortions for the decisions of firms to enter, exit, and supply products to the market. These margins of adjustment have been largely neglected in the literature yet have direct contributions to welfare and productivity. The paper finds that when the analysis accounts for these channels, the traditional focus on long-run gains in Total Factor...
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INFORMATION
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2017/04/04
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Document de travail de recherche sur les politiques
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WPS8023
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1
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1
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2017/04/04
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Disclosed
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Entry and exit, multi-product firms, and allocative distortions
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Macroeconomics and Growth
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