Reallocation and Technology: Evidence from the US Steel Industry
利用1963-2002年美国钢铁行业工厂级数据，研究微型钢厂这一新技术如何通过替代旧技术和加剧竞争两条路径提升行业整体生产率。
We measure the impact of a drastic new technology for producing steel—the minimill—on industry-wide productivity in the US steel industry, using unique plant-level data between 1963 and 2002. The sharp increase in the industry's productivity is linked to this new technology through two distinct mechanisms: (i ) the mere displacement of the older technology (vertically integrated producers) was responsible for a third of the increase in the industry's productivity, and (ii ) increased competition, due the minimill expansion, drove a productivity resurgence at the surviving vertical integrated producers and, consequently, the productivity of the industry as a whole.