The contribution of start-ups and young firms to industry-level efficiency growth

References

• Asplund, M., and V. Nocke. 2006. “Firm Turnover in Imperfectly Competitive Markets.” Review of Economic Studies 73 (2): 295–327. doi:10.1111/roes.2006.73.issue-2.
   Web of Science ®Google Scholar
• Audretsch, D. B., and J. Mata. 1995. “The Post-Entry Performance of Firms: Introduction.” International Journal of Industrial Organization 13 (4): 413–419. doi:10.1016/0167-7187(95)00497-1.
   Web of Science ®Google Scholar
• Bahk, B.-H., and M. Gort. 1993. “Decomposing Learning by Doing in New Plants.” Journal of Political Economy 101 (4): 561–583. doi:10.1086/261888.
   Web of Science ®Google Scholar
• Baldwin, J. R., and M. Rafiquzzaman. 1995. “Selection versus Evolutionary Adaptation: Learning and Post-Entry Performance.” International Journal of Industrial Organization 13 (4): 501–522. doi:10.1016/0167-7187(95)00502-1.
   Web of Science ®Google Scholar
• Balk, B. M. 2016. “The Dynamics of Productivity Change: A Review of the Bottom-Up Approach.” In Productivity and Efficiency Analysis, edited by W. H. Greene, L. C. Khalaf, R. Sickles, M. Veall, and M.-C. Voia, 15–49. Cham: Springer International Publishing.
   Google Scholar
• Barba Navaretti, G., D. Castellani, and F. Pieri. 2012. “The Role of Age in Shaping Firms’ Size Dynamics: “learning” Effects or Willingness to Grow.” Brussels: EFIGE Working Paper No. 60.
   Google Scholar
• Bartelsman, E., J. Haltiwanger, and S. Scarpetta. 2004. “Microeconomic Evidence of Creative Destruction in Industrial and Developing Countries.” Policy Research Working Paper 3464, Washington DC: The World Bank.
   Google Scholar
• Bartelsman, E., J. Haltiwanger, and S. Scarpetta. 2009. “Measuring and Analyzing Cross-Country Differences in Firm Dynamics.” In Producer Dynamics: New Evidence from Micro Data, edited by T. Dunne, J. Bradford Jensen, and M. Roberts, 15–76. Cambridge MA: National Bureau of Economic Research.
   Google Scholar
• Basu, S., J. G. Fernald, and M. S. Kimball. 2006. “Are Technology Improvements Contractionary?” American Economic Review 96 (5): 1418–1448. doi:10.1257/aer.96.5.1418.
   Web of Science ®Google Scholar
• Bravo Biosca, A. 2010. “Growth Dynamics: Exploring Business Growth and Contraction in Europe and the US.” Research Report, London: NESTA.
   Google Scholar
• Caballero, R. J., and M. L. Hammour. 1994. “The Cleansing Effect of Recessions.” American Economic Review 84 (5): 1350–1368.
   Web of Science ®Google Scholar
• Calvino, F., C. Criscuolo, and C. Menon. 2015. “Cross-Country Evidence on Start-Up Dynamics.” OECD Science, Technology and Industry Working Papers, 2015/06, OECD Publishing, Paris.
   Google Scholar
• Clementi, G. L., and D. Palazzo. 2013. “Entry, Exit, Firm Dynamics, and Aggregate Fluctuations.” NBER Working Paper 19217, Cambridge MA: National Bureau of Economic Research.
   Google Scholar
• Coad, A., and R. Rao. 2008. “Innovation and Firm Growth in High-Tech Sectors: A Quantile Regression Approach.” Research Policy 37 (4): 633–648. doi:10.1016/j.respol.2008.01.003.
   Web of Science ®Google Scholar
• CompNet Task Force. 2014. “Micro-Based Evidence of EU Competitiveness: The Compnet Database.” Frankfurt: ECB Working Paper Series 1634.
   Google Scholar
• Criscuolo, C., P. N. Gal, and C. Menon. 2014. “The Dynamics of Employment Growth: New Evidence from 18 Countries.” OECD Science, Technology and Industry Policy Papers 14, Paris: OECD Publishing.
   Google Scholar
• Dall’Olio, A., M. Iootty, N. Kanehira, and F. Saliola. 2013. “Productivity growth in Europe.” Policy Research Working Paper 6425. Washington DC: World Bank.
   Google Scholar
• Daunfeldt, S.-O., N. Elert, and D. Johansson. 2014. “The Economic Contribution of High-Growth Firms: Do Policy Implications Depend on the Choice of Growth Indicator?” Journal of Industry, Competition and Trade 14: 337–365. doi:10.1007/s10842-013-0168-7.
   Google Scholar
• Delmar, F., A. McKelvie, and K. Wennberg. 2013. “Untangling the Relationships among Growth, Profitability and Survival in New Firms.” Technovation 33 (8–9): 276–291. doi:10.1016/j.technovation.2013.02.003.
   Web of Science ®Google Scholar
• Diewert, W. E., and K. J. Fox. 2010. “On Measuring the Contribution of Entering and Exiting Firms to Aggregate Productivity Growth.” In Price and Productivity Measurement, edited by W. E. Diewert, B. M. Balk, D. Fixler, K. J. Fox, and A. O. Nakamura, 41–66. Victoria: Trafford Press.
   Google Scholar
• Dunne, T., M. J. Roberts, and L. Samuelson. 1988. “Patterns of Firm Entry and Exit in U.S. Manufacturing Industries.” The RAND Journal of Economics 19 (4): 495–515. doi:10.2307/2555454.
   Web of Science ®Google Scholar
• Falck, O. 2007. “Survival Chances of New Businesses: Do Regional Conditions Matter?” Applied Economics 39 (16): 2039–2048. doi:10.1080/00036840600749615.
   Web of Science ®Google Scholar
• Fort, T. C., J. Haltiwanger, R. S. Jarmin, and J. Miranda. 2013. “How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size.” NBER Working Paper No. 19134, Cambridge MA: National Bureau of Economic Research.
   Google Scholar
• Foster, L., C. Grim, and J. Haltiwanger. 2013. “Reallocation in the Great Recession: Cleansing or Not?” Working Paper 13–42, Center for Economic Studies, Washington DC: U.S. Census Bureau.
   Google Scholar
• Foster, L., J. Haltiwanger, and C. J. Krizan. 2001. “Aggregate Productivity Growth. Lessons from Microeconomic Evidence.” In New Developments in Productivity Analysis, edited by NBER. Cambridge MA: National Bureau of Economic Research.
   Google Scholar
• Foster, L., J. Haltiwanger, and C. Syverson. 2008. “Reallocation, Firm Turnover, and Efficiency: Selection on Productivity or Profitability?” American Economic Review 98 (1): 394–425. doi:10.1257/aer.98.1.394.
   Web of Science ®Google Scholar
• Foster, L., J. Haltiwanger, and C. Syverson. 2013. “The Slow Growth of New Plants: Learning about Demand?” Washington DC: Mimeo.
   Google Scholar
• Fukuda, K. 2013. “Decomposition of New Venture Growth into Firm Age, Survey Period and Vintage Effects.” Applied Economics 45 (1): 85–97. doi:10.1080/00036846.2011.589815.
   Web of Science ®Google Scholar
• Geroski, P. A. 1995. “What Do We Know about Entry?” International Journal of Industrial Organization 13 (4): 421–440. doi:10.1016/0167-7187(95)00498-X.
   Web of Science ®Google Scholar
• Gertler, M., and S. Gilchrist. 1994. “Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms.” The Quarterly Journal of Economics 109 (2): 309–340. doi:10.2307/2118465.
   Web of Science ®Google Scholar
• Geurts, K., and P. Vets. 2013. “Employee Flows to Study Firm and Employment Dynamics.” Dynam Working Paper, Leuven: KU Leuven.
   Google Scholar
• Griliches, Z., and H. Regev. 1995. “Firm Productivity in Israeli Industry 1979–1988.” Journal of Econometrics 65 (1): 175–203. doi:10.1016/0304-4076(94)01601-U.
   Web of Science ®Google Scholar
• Hall, R. E. 1991. “Invariance Properties of Solow’s Productivity Residual.” NBER Working Paper No. 3034, Cambridge MA: National Bureau of Economic Research.
   Google Scholar
• Haltiwanger, J., R. S. Jarmin, and J. Miranda. 2013. “Who Creates Jobs? Small versus Large versus Young.” The Review of Economics and Statistics 95 (2): 347–361. doi:10.1162/REST_a_00288.
   Web of Science ®Google Scholar
• Honjo, Y. 2004. “Growth of New Start-Up Firms: Evidence from the Japanese Manufacturing Industry.” Applied Economics 36 (4): 343–355. doi:10.1080/00036840410001674277.
   Web of Science ®Google Scholar
• Hopenhayn, H. A. 1992. “Entry, Exit, and Firm Dynamics in Long Run Equilibrium.” Econometrica 60 (5): 1127–1150. doi:10.2307/2951541.
   Web of Science ®Google Scholar
• Huergo, E., and J. Jaumandreu. 2004. “Firms’ Age, Process Innovation and Productivity Growth.” International Journal of Industrial Organization 22 (4): 541–559. doi:10.1016/j.ijindorg.2003.12.002.
   Web of Science ®Google Scholar
• Hyytinen, A., and M. Maliranta. 2013. “Firm Lifecycles and Evolution of Industry Productivity.” Research Policy 42 (5): 1080–1098. doi:10.1016/j.respol.2013.01.008.
   Web of Science ®Google Scholar
• Jensen, J. B., R. H. McGuckin, and K. J. Stiroh. 2001. “The Impact of Vintage and Survival on Productivity: Evidence from Cohorts of U.S. Manufacturing Plants.” The Review of Economics and Statistics 83 (2): 323–332. doi:10.1162/00346530151143851.
   Web of Science ®Google Scholar
• Jovanovic, B. 1982. “Selection and the Evolution of Industry.” Econometrica 50 (3): 649–670. doi:10.2307/1912606.
   Web of Science ®Google Scholar
• Klette, T. J., and Z. Griliches. 1996. “The Inconsistency of Common Scale Estimators When Output Prices Are Unobserved and Endogenous.” Journal of Applied Econometrics 11 (4): 343–361. doi:10.1002/(ISSN)1099-1255.
   Web of Science ®Google Scholar
• Kumbhakar, S. C., B. U. Park, L. Simar, and E. G. Tsionas. 2007. “Nonparametric Stochastic Frontiers: A Local Maximum Likelihood Approach.” Journal of Econometrics 137 (1): 1–27. doi:10.1016/j.jeconom.2006.03.006.
   Web of Science ®Google Scholar
• Lee, Y., and T. Mukoyama. 2007. “Entry, Exit, and Plant-level Dynamics over the Business Cycle.” Federal Reserve Bank of Cleveland Working Paper 07-18, Cleveland: Federal Reserve Bank of Cleveland.
   Google Scholar
• Melitz, M., and S. Polanec. 2014. “Dynamic Olley-Pakes Productivity Decomposition with Entry and Exit.” RAND Journal of Economics 46 (2): 362–375.
   Web of Science ®Google Scholar
• Merlevede, B., M. De Zwaan, K. Lenaerts, and V. Purice. 2014. “Firm Heterogeneity and the Impact of the Crisis: Evidence from a Pan-European Firm-Level Dataset.” Mimeo, Ghent: Ghent University.
   Google Scholar
• OECD. 2015. OECD Compendium of Productivity Indicators 2015. Paris: OECD Publishing. doi:10.1787/pdtvy-2015-en.
   Google Scholar
• Olley, G. S., and A. Pakes. 1996. “The Dynamics of Productivity in the Telecommunications Equipment Industry.” Econometrica 64 (6): 1263–1297. doi:10.2307/2171831.
   Web of Science ®Google Scholar
• Petrosky-Nadeau, N. 2013. “TFP during a Credit Crunch.” Journal of Economic Theory 148 (3): 1150–1178. doi:10.1016/j.jet.2012.09.019.
   Web of Science ®Google Scholar
• Planas, C., W. Roeger, and A. Rossi. 2013. “The Information Content of Capacity Utilization for Detrending Total Factor Productivity.” Journal of Economic Dynamics and Control 37 (3): 577–590. doi:10.1016/j.jedc.2012.09.005.
   Web of Science ®Google Scholar
• Riley, R., C. Rosazza Bondibene, and G. Young. 2014. Productivity Dynamics in the Great Stagnation: Evidence from British businesses, LSE Research Online Documents on Economics 58108. London School of Economics and Political Science, London: LSE Library.
   Google Scholar
• Scarpetta, S., P. Hemmings, T. Tressel, and J. Woo. 2002. “The Role of Policy and Institutions for Productivity and Firm Dynamics: Evidence from Micro and Industry Data.” OECD, Paris: Economics Department Working Paper 329.
   Google Scholar
• Sharpe, S. A. 1994. “Financial Market Imperfections, Firm Leverage, and the Cyclicality of Employment.” American Economic Review 84 (4): 1060–1074.
   Web of Science ®Google Scholar
• Solon, G., R. Barsky, and J. A. Parker. 1994. “Measuring the Cyclicality of Real Wages: How Important Is Composition Bias?” The Quarterly Journal of Economics 109 (1): 1–25. doi:10.2307/2118426.
   Web of Science ®Google Scholar
• Tipper, A., and N. Warmke. 2012. “Adjusting Productivity Statistics for Variable Capacity Utilisation: Working Harder or Hardly Working.” Wellington: Statistics New Zealand Working Paper No 12–02.
   Google Scholar
• Vainiomäki, J. 1999. “Technology and Skill Upgrading: Results from Linked Worker-Plant Data for Finnish Manufacturing.” In The Creation and Analysis of Employer-Employee Matched Data, edited by J. Haltiwanger, J. Lane, J. R. Spletzer, J. J. M. Theuwes, and K. R. Troske, 115–145. North-Holland: Elsevier Science.
   Google Scholar
• Verschelde, M., M. Dumont, G. Rayp, and B. Merlevede. 2014. “European Competitiveness - A Semiparametric Stochastic Metafrontier Analysis at the Firm Level.” Working Paper Series 1701, Frankfurt: European Central Bank.
   Google Scholar
• Verschelde, M., M. Dumont, G. Rayp, and B. Merlevede. 2016. “Semiparametric Stochastic Metafrontier Efficiency of European Manufacturing Firms.” Journal of Productivity Analysis 45 (1): 53–69. doi:10.1007/s11123-015-0458-7.
   Web of Science ®Google Scholar
• Wagner, J. 1994. “The Post-Entry Performance of New Small Firms in German Manufacturing Industries.” The Journal of Industrial Economics 42 (2): 141–154. doi:10.2307/2950486.
   Web of Science ®Google Scholar