Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/208244
Authors: 
Bartelsman, Eric Jan
López-García, Paloma
Presidente, Giorgio
Year of Publication: 
2018
Series/Report no.: 
ECB Working Paper 2210
Abstract: 
This paper uses cross-country micro-aggregated data on firm dynamics and productivity from the ECB CompNet database to provide empirical evidence on factor reallocation in the European Union (EU). The analysis finds that reallocation is towards more productive firms although the magnitude varies across countries and over time. Variation in reallocation is related to structural differences in firm size distribution across countries as well as to variation in labor and product market institutions. Productivity-enhancing reallocation generally rises in downturns but, similar to findings for the US, it did not pick up in the Great Recession. The sharp drop in exports and tightness in credit markets are seen to provide a partial explanation for this lack of a silver lining.
Subjects: 
Great Recession
Factor Reallocation
JEL: 
E24
E32
J63
O4
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-3315-5
Document Type: 
Working Paper

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