Fading Stars

German Gutierrez () and Thomas Philippon

AEA Papers and Proceedings, 2019, vol. 109, 312-16

Abstract: We study the evolution of superstar firms in the US economy over the past 60 years. Contrary to common wisdom, superstar firms have not become larger or more productive but have become more profitable. The contribution of star firms to aggregate US productivity growth has fallen over time, from about 72 basis points per year before 2000 down to about 43 afterwards.

JEL-codes: D22 L25 N12 N82 O47 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.1257/pandp.20191065
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Citations: View citations in EconPapers (5)

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