Firm Heterogeneity, Credit Constraints, and Endogenous Growth

Time: 2011, Tuesday March 15, 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague

Presentation: Jürgen Antony (CPB)

Discussant: Julian Emami Namini (Erasmus University Rotterdam)

Language: English

Registration:  Please register by sending an email to seminars@cpb.nl.

Abstract subject: This paper is in general concerned with the role of firm heterogeneity for economic growth. We focus on heterogeneous productivity in innovation and credit constraints of firms. We do so  within a semi-endogenous growth model reflecting recent empirical findings on firm heterogeneity. Our model allows for an explicit solution for transitional growth and balanced growth path level of innovations or ideas. The model predicts an optimal degree of heterogeneity in the presence of an endogenous firm distribution. This enables us to draw inference about the impact of key policy parameters of the model on these quantities and to draw conclusions about firm and capital market related policies.

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