Scale Economies and Consolidation in Hog Slaughter
利用工厂层面面板数据估计成本函数，发现1990年代技术规模经济显著且随时间增强，但1970年代工资随工厂规模上升产生的货币规模不经济抵消了技术规模经济；1980年代工资溢价消失后，大型工厂成本优势扩大，生产向大型工厂转移。
Abstract We use establishment based panel data to estimate a cost function which identifies the role of scale economies in hog slaughter consolidation. We find modest but extensive technological scale economies in the 1990s, and they became more important over time. But wages rose sharply with plant size through the 1970s, and those wage premiums generated a pecuniary scale diseconomy that largely offset the effects of technological scale economies. The size‐wage relation disappeared in the 1980s; with growing technological scale economies and disappearing pecuniary diseconomies, large plants realized growing cost advantages over smaller plants, and production shifted to larger plants.