Replication data for: Missing Growth from Creative Destruction
Principal Investigator(s): View help for Principal Investigator(s) Philippe Aghion; Antonin Bergeaud; Timo Boppart; Peter J. Klenow; Huiyu Li
Version: View help for Version V1
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Project Citation:
Aghion, Philippe, Bergeaud, Antonin, Boppart, Timo, Klenow, Peter J., and Li, Huiyu. Replication data for: Missing Growth from Creative Destruction. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116199V1
Project Description
Summary:
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For exiting products, statistical agencies often impute inflation from surviving products. This understates growth if creatively-destroyed products improve more than surviving ones. If so, then the market share of surviving products should systematically shrink. Using entering and exiting establishments to proxy for creative destruction, we estimate missing growth in US Census data on non-farm businesses from 1983 to 2013. We find missing growth (i) equaled about one-half a percentage point per year; (ii) arose mostly from hotels and restaurants rather than manufacturing; and (iii) did not accelerate much after 2005, and therefore does not explain the sharp slowdown in growth since then.
Scope of Project
JEL Classification:
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E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
L14 Transactional Relationships; Contracts and Reputation; Networks
L15 Information and Product Quality; Standardization and Compatibility
O30 Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
O41 One, Two, and Multisector Growth Models
E23 Macroeconomics: Production
E31 Price Level; Inflation; Deflation
L14 Transactional Relationships; Contracts and Reputation; Networks
L15 Information and Product Quality; Standardization and Compatibility
O30 Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
O41 One, Two, and Multisector Growth Models
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