Econ Papers Daily / 期刊论文
经济增长与大型企业的崛起
Economic Growth and the Rise of Large Firms
摘要
I document that the right tail of the firm size distribution systematically thickens with economic development. To rationalize this fact, I develop a parsimonious idea search model in which both aggregate growth and the firm size distribution are endogenously determined. The model features an asymptotic balanced growth path along which Gibrat's law holds at each date, and the right tail of the firm size distribution thickens monotonically toward Zipf's law. The model also implies that policies favoring large firms can improve welfare by better utilizing the diffusion externalities arising from idea search.
中文摘要
本文发现，企业规模分布的右尾随经济发展系统性增厚。为解释这一事实，我构建了一个简约的思想搜寻模型，其中总量增长与企业规模分布均为内生决定。该模型具有渐进平衡增长路径特征，在此路径上各期均满足吉布拉定律，且企业规模分布的右尾单调增厚直至趋近齐普夫定律。模型还表明，偏好大企业的政策可通过更充分利用思想搜寻产生的扩散外部性来提升社会福利。