Data and Code for: "The Nature of Firm Growth"
Principal Investigator(s): View help for Principal Investigator(s) Benjamin Pugsley, University of Notre Dame; Petr Sedlacek, University of Oxford; Vincent Sterk, University College London
Version: View help for Version V2
| Name | File Type | Size | Last Modified |
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| Appendices | 03/07/2022 12:15:PM | ||
| CensusPrograms | 03/07/2022 12:25:PM | ||
| StatisticalModel | 03/07/2022 12:25:PM | ||
| StructuralModel-Baseline | 03/07/2022 12:25:PM | ||
| StructuralModel-Extensions | 03/07/2022 12:15:PM | ||
| StructuralModel-SplitSample | 03/07/2022 12:26:PM | ||
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application/pdf | 56 KB | 03/07/2022 01:46:PM |
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text/plain | 7.9 KB | 03/07/2022 01:45:PM |
Project Citation:
Pugsley, Benjamin, Sedlacek, Petr, and Sterk, Vincent. Data and Code for: “The Nature of Firm Growth.” Nashville, TN: American Economic Association [publisher], 2023. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2023-04-20. https://doi.org/10.3886/E121021V2
Project Description
Summary:
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Replication materials for "The Nature of Firm Growth" by Sterk (r) Sedlacek (r) Pugsley
Abstract: About half of all startups fail within five years, and those that survive grow at vastly different speeds. Using Census microdata, we estimate that most of these differences are determined by ex-ante heterogeneity rather than persistent ex-post shocks. Embedding such heterogeneity in a firm dynamics model shows that the presence of ex-ante heterogeneity (i) is a key determinant of the firm size distribution and firm dynamics, (ii) can strongly affect the macroeconomic effects of firm-level frictions, and (iii) helps understand the recently documented decline in business dynamism by showing a disappearance of high-growth startups (``gazelles'') since the mid-1980s.
Abstract: About half of all startups fail within five years, and those that survive grow at vastly different speeds. Using Census microdata, we estimate that most of these differences are determined by ex-ante heterogeneity rather than persistent ex-post shocks. Embedding such heterogeneity in a firm dynamics model shows that the presence of ex-ante heterogeneity (i) is a key determinant of the firm size distribution and firm dynamics, (ii) can strongly affect the macroeconomic effects of firm-level frictions, and (iii) helps understand the recently documented decline in business dynamism by showing a disappearance of high-growth startups (``gazelles'') since the mid-1980s.
Scope of Project
Subject Terms:
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Firm Dynamics;
Census Data;
Startups;
macroeconomics
JEL Classification:
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D22 Firm Behavior: Empirical Analysis
E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
D22 Firm Behavior: Empirical Analysis
E23 Macroeconomics: Production
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Geographic Coverage:
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United States
Time Period(s):
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1979 – 2012
Universe:
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US nonfarm private sector establishments and firms
Data Type(s):
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aggregate data
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