Entry, Exit, and firm Dynamics in Long Run Equilibrium
构建了一个竞争性行业的动态随机模型，解释企业进入、退出及产出和就业增长，扩展了长期行业均衡理论，并推导了利润和企业价值的横截面分布。
A dynamic stochastic model for a competitive industry is developed in which entry, exit, and the growth of firms' output and employment is determined. The paper extends long-run industry equilibrium theory to account for entry, exit, and heterogeneity in the size and growth rate of firms. Conditions under which there is entry and exit in the long run are developed. Cross sectional implications and distributions of profits and value of firms are derived. Comparative statics on the equilibrium size distribution and turnover rates are analyzed. Copyright 1992 by The Econometric Society.