Establishment Size Dynamics in the Aggregate Economy
提出一个基于行业特定人力资本积累的理论，解释企业增长率、退出率和规模分布的经济整体事实，并利用美国跨行业数据验证了要素密集度对规模动态的影响。
This paper presents a theory of establishment size dynamics based on the accumulation of industry-specific human capital that simultaneously rationalizes the economy-wide facts on establishment growth rates, exit rates, and size distributions. The theory predicts that establishment growth and net exit rates should decline faster with size, and that the establishment size distribution should have thinner tails, in sectors that use specific human capital less intensively. We establish that there is substantial cross-sector heterogeneity in US establishment size dynamics and distributions, which is well explained by relative factor intensities..