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14:00 | Macro Research Seminar
Petr Sedláček, Ph.D. (U. of Oxford) “The Nature of Firm Growth”
University of Oxford, United Kingdom
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Authors: Benjamin W. Pugsley, Petr Sedláček, and Vincent Sterk
Abstract: Only half of all startups survive past the age of five and surviving businesses grow at vastly different speeds. Using micro data on employment in the population of U.S. businesses, we estimate that the lion’s share of these differences is driven by ex-ante heterogeneity across firms, rather than by ex-post shocks. Using a macroeconomic model with firm dynamics, we then study how ex-ante differences shape the distribution of firm size, “up-or-out” dynamics, and the associated gains in aggregate output. “Gazelles”—a small subset of startups with particularly high growth potential—emerge as key drivers of these outcomes. Analyzing changes in the distribution of ex-ante firm heterogeneity over time reveals that the birth rate and growth potential of gazelles has declined, creating substantial aggregate losses.
Keywords: Firm Dynamics, Startups, Macroeconomics, Administrative Data
JEL Codes: D22, E23, E24
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Full Text: “The Nature of Firm Growth”
17:00 | Economics Discovery Hub
How to Design a Successful Economic Experiment
Date: Thursday, 25 October 2018
Time: 17:00-19:30
Duration: 150 minutes
Course instructor: Tomáš Miklánek
This workshop is part of the Experimental Economics series. At the beginning of the workhop Michal Bauer will do a special introduction into the field of Experimental Economics.
Registration for this workshop is open.
Please read about our selection process. Follow EDH on Facebook for the latest news and tips.
To design an economic experiment might be a more complex issue than you might think at the first glance. Which answers can experiment give you and what is not possible? Is it enough to have 40 subjects or do you need 400 of them? Are there some specific problems associated with running experiments in the Czech Republic? This workshop will guide you through the most important decisions you will need to solve in order to design an economic experiment appropriate for your research question. Tomáš Miklánek from the Laboratory of Experimental Economics will share his experience from more than 150 experimental sessions.
We thank our partners for supporting the Economics Discovery Hub.
