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Innovaciones en productividad y dinámica de plantas

Author

Listed:
  • Raphael Bergoeing

    (Universidad de Chile)

  • Facundo Piguillem

    (Cámara Chilena de la Construcción)

Abstract

The recent empirical evidence shows that plant level dynamics are relevant to explain economic growth. The reallocation of resources across incumbent plants, and the process of entry and exit of plants account for a quantitatively relevant fraction of changes in total factor productivity; aggregate efficiency in turns is the main source of the observed changes in aggregate growth. In this paper we build a stochastic general equilibrium model with heterogeneous plants to study the effect on plant decisions of idiosyncratic and aggregate productivity shocks. Parameterizing the model to represent a developing economy, we analyze the effect of productivity changes on several key macroeconomic variables. Our numerical simulations show that the model accounts for the observed regularities. The model can also be used to study several additional issues related to both, business cycle and long run income levels.

Suggested Citation

  • Raphael Bergoeing & Facundo Piguillem, 2003. "Innovaciones en productividad y dinámica de plantas," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 18(2), pages 3-32, December.
    • Handle: RePEc:ila:anaeco:v:18:y:2003:i:2:p:3-32
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    References listed on IDEAS

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    Cited by:

    1. Ruy Lama & Juan Pablo Medina, 2004. "Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices," Working Papers Central Bank of Chile 286, Central Bank of Chile.

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    More about this item

    Keywords

    plant level dynamics; economic growth; aggregate efficiency;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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