BANK OF ITALY/CEPR WORKSHOP ON "FIRM DYNAMICS AND ECONOMIC GROWTH"
Rome, December 19-20, 2018
Deadline for submissions: July 31st, 2018
Firm dynamics – the processes of firm entry, exit, survival and growth, is at the root of creative destruction, input accumulation, and productivity growth. The large theoretical literature on this topic has been recently coupled with empirical analyses that exploit the increasing availability of large micro-level databases on private businesses and individuals. This workshop aims at bringing together leading researchers that are contributing both theoretically or empirically to the study of firm and industry dynamics, their determinants, and the policies aimed at fostering them.
We welcome papers broadly related (but not limited) to the following aspects:
Keynote speakers: Ufuk Akcigit (University of Chicago and CEPR) and Gian Luca Clementi (NYU – Stern)
Workshop organisers: Salomé Baslandze (EIEF and CEPR), Francesca Lotti (Bank of Italy), Francesco Manaresi (Bank of Italy), Luigi Marengo (LUISS).
Paper submissions: Papers (or extended abstracts) should be submitted through Conference Maker® at http://editorialexpress.com/conference/BICEPR_firmdyn/ no later than by July 31st, 2018. Decisions will be notified by early September.
The Bank of Italy will cover accommodation expenditures for the presenters.
When: March 18-19, 2019
Where: EIB Headquarters – 98-100 Konrad Adenauer, Luxembourg
Organising committee: Filippo di Mauro (CompNet) email@example.com
Romain Duval (IMF) firstname.lastname@example.org
Debora Revoltella (EIB) email@example.com
Scientific committee: Pedro De Lima (EIB), Romain Duval (IMF), Filippo Di Mauro CompNet), Reint Gropp (IWH), Sergei Guriev (EBRD), Gianmarco Ottaviano (Bocconi), Debora Revoltella (EIB), and Jan Svejnar (Columbia University)
Comfirmed participants: Ufuk Akcigit, Sergei Guriev, Marc Melitz, Gianmarco Ottaviano, Thomas Philippon, Jan Svejnar
From Micro to Macro: Market Power, Firms’ heterogeneity and Investment
In the last decades the global economy witnessed several secular macroeconomic trends including a slowdown of aggregate output growth, persistently low investment rates, declining labor shares and rising inequality. The causes for these trends, although intensively debated, remain uncertain.
Against this backdrop, we ask whether and to what extent the rising market power of certain firms and, more broadly, the heterogeneity at the firm level, matter for these aggregate outcomes. How have market power and competition among firms changed over time? How do input and output market structures, and particularly their effects on misallocation and innovation, affect economywide productivity growth, inequality, factor compensation and welfare? What does the presence of “superstar” firms imply for aggregate outcomes and the political economy? How do international competition and technological change affect market power, inequality, investment decisions and aggregate productivity growth? Is market selection at the product/firm level functioning? If not, what are the obstacles to it and what are the implications for macro level outcomes, notably for investment? Do concentration and market power have a significant impact on investment decision of firms and on aggregate investment?
The Competitiveness Research Network (CompNet), the European Network for Research on Investment (ENRI) and the IMF are jointly calling for papers tackling one or more of these themes. More specifically, we seek original academic work with strong policy relevance on the following topics:
• Market power in input and output markets: stylized facts, drivers and static and dynamic
implications for misallocation, innovation, productivity and growth
• Industrial concentration, market power and investment: firm-level impact and consequences for the aggregate economy
• Firm size and growth
• Firm entry, exit, and market selection
• Firm-level drivers of declining labor shares and rising inequality
• Firm-level drivers of low investment rates
• Dynamic measures of market power and misallocation
• Competition, globalization, and efficient resource (re)allocation between firms.
The organising committee is soliciting papers in the areas outlined above. Preference will be given to papers that have a significant empirical content and/or those with direct policy relevance.
Submissions and important dates
Please submit papers to CompNet secretariat: firstname.lastname@example.org and ENRI secretariat: email@example.com by 15 December 2018. Extended abstracts will also be accepted but preference will be given to full drafts. Only authors of accepted papers will be notified of the decision, which will be communicated by 18 January 2019. Final drafts will be due by 22 February 2019. Financial support will be provided to cover speakers’ travel and hotel expenses.