Matching and Agglomeration: Theory and Evidence From Japanese Firm-to-Firm Trade

IF 6.6 1区经济学 Q1 ECONOMICS Econometrica Pub Date : 2024-11-21 DOI:10.3982/ECTA19697

Yuhei Miyauchi

引用次数: 0

Abstract

This paper shows that matching frictions and a thick market externality in firm-to-firm trade shape the agglomeration of economic activity. Using panel data of firm-to-firm trade in Japan, I demonstrate that firms gradually match with alternative suppliers following an unanticipated supplier bankruptcy, and that the rate of rematching increases in the geographic density of alternative suppliers. Motivated by these empirical findings, I develop a general equilibrium model of firm-to-firm matching in input trade across space. The model reveals that the thick market externality gives rise to an agglomeration externality affecting regional production and welfare. Using the calibrated model to the reduced-form patterns of firm-to-firm matching, I estimate that the elasticity of a region's real wage with respect to population density due to the thick market externality is approximately 0.02. This finding highlights the substantial impact of the thick market externality on the overall agglomeration benefit.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

匹配与集聚：日本企业间贸易的理论与证据

本文表明，企业间贸易中的匹配摩擦和浓厚的市场外部性决定了经济活动的集聚。通过使用日本企业间贸易的面板数据，我证明了在供应商意外破产后，企业会逐渐与替代供应商匹配，并且再匹配率会随着替代供应商的地理密度增加而增加。受这些实证研究结果的启发，我建立了一个跨空间投入品贸易中企业间匹配的一般均衡模型。该模型揭示了厚市场外部性会产生影响区域生产和福利的集聚外部性。根据企业间匹配的简化模式校准模型，我估计厚市场外部性导致的地区实际工资与人口密度的弹性约为 0.02。这一结果凸显了厚市场外部性对整体集聚效益的巨大影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

Econometrica 社会科学-数学跨学科应用

CiteScore

11.00

自引率

3.30%

发文量

审稿时长

6-12 weeks

期刊介绍： Econometrica publishes original articles in all branches of economics - theoretical and empirical, abstract and applied, providing wide-ranging coverage across the subject area. It promotes studies that aim at the unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems and that are penetrated by constructive and rigorous thinking. It explores a unique range of topics each year - from the frontier of theoretical developments in many new and important areas, to research on current and applied economic problems, to methodologically innovative, theoretical and applied studies in econometrics. Econometrica maintains a long tradition that submitted articles are refereed carefully and that detailed and thoughtful referee reports are provided to the author as an aid to scientific research, thus ensuring the high calibre of papers found in Econometrica. An international board of editors, together with the referees it has selected, has succeeded in substantially reducing editorial turnaround time, thereby encouraging submissions of the highest quality. We strongly encourage recent Ph. D. graduates to submit their work to Econometrica. Our policy is to take into account the fact that recent graduates are less experienced in the process of writing and submitting papers.

期刊最新文献

Frontmatter of Econometrica Vol. 92 Iss. 6 The Impacts of Managerial Autonomy on Firm Outcomes Matching and Agglomeration: Theory and Evidence From Japanese Firm-to-Firm Trade Privacy-Preserving Signals Stationary Social Learning in a Changing Environment