The Industry Life-Cycle of the Size Distribution of Firms
Emin Dinlersoz () and
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Glenn MacDonald: Wahington University
Review of Economic Dynamics, 2009, vol. 12, issue 4, 648-667
This paper analyzes the evolution of the distributions of output and employment across firms in U.S. manufacturing industries from 1963 until 1997. The firm size distribution changes significantly as an industry goes through stages of its life-cycle. The evolutions of the employment and output distributions also differ significantly, but display strong inter-industry regularities, including that the nature of the evolution depends on whether the industry is experiencing growth, shakeout, maturity, or decline. The observed patterns have implications for theories of industry dynamics and evolution. (Copyright: Elsevier)
Keywords: Firm size distribution; Industry evolution; Industry dynamics; Manufacturing industries (search for similar items in EconPapers)
JEL-codes: L11 L60 (search for similar items in EconPapers)
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