scholarly journals Zombie Lending and Depressed Restructuring in Japan

2008 ◽  
Vol 98 (5) ◽  
pp. 1943-1977 ◽  
Author(s):  
Ricardo J Caballero ◽  
Takeo Hoshi ◽  
Anil K Kashyap
Keyword(s):  
Market Share ◽  
Employment Growth ◽  
Job Creation ◽  
Firm Level ◽  
Competitive Process ◽  
Lower Productivity ◽  
Zombie Lending ◽  
Job Creation And Destruction ◽  
Productivity Gap

Large Japanese banks often engaged in sham loan restructurings that kept credit flowing to otherwise insolvent borrowers (which we call zombies). We examine the implications of suppressing the normal competitive process whereby the zombies would shed workers and lose market share. The congestion created by the zombies reduces the profits for healthy firms, which discourages their entry and investment. We confirm that zombie-dominated industries exhibit more depressed job creation and destruction, and lower productivity. We present firm-level regressions showing that the increase in zombies depressed the investment and employment growth of non-zombies and widened the productivity gap between zombies and non-zombies. (JEL G21, G32, L25)

scholarly journals How do regional economies respond to crises? The geography of job creation and destruction in Sweden (1990–2010)

2016 ◽  
Vol 24 (1) ◽  
pp. 87-103 ◽  
Author(s):  
Rikard H Eriksson ◽  
Emelie Hane-Weijman
Keyword(s):  
Employment Growth ◽  
Job Creation ◽  
Regional Economies ◽  
Job Destruction ◽  
Metropolitan Regions ◽  
Show Evidence ◽  
High Degree ◽  
Unrelated Variety ◽  
Job Creation And Destruction

Using Swedish longitudinal micro-data, the aim of this paper is to analyse how regional economies respond to crises. This is made possible by linking gross employment flows to the notion of regional resilience. Our findings indicate that despite a steady national employment growth, only the three metropolitan regions have fully recovered from the recession of 1990. Further, we show evidence of high levels of job creation and destruction in both declining and expanding regions and sectors, and that the creation of jobs is mainly attributable to employment growth in incumbent firms, while job destruction is primarily due to exits and micro-plants. Although the geography of resistance to crises and the ability of adaptability in the aftermath vary, our findings suggest that cohesive (i.e., with many skill-related industries) and diverse (i.e., with a high degree of unrelated variety) regions are more resilient over time. We also find that resistance to future shocks (e.g., the 2008 recession) is highly dependent on the resistance to previous crises. In all, this suggests that the long-term evolution of regional economies also influences their future resilience.

scholarly journals Is employment growth affected by the introduction of broadband services? Evidence from firms in Ireland

2019 ◽  
Vol 8 (1) ◽  
pp. 41
Author(s):  
Philip Carthy ◽  
Sean Lyons
Keyword(s):  
Employment Growth ◽  
Spatial Information ◽  
Job Creation ◽  
General Effect ◽  
Digital Subscriber Line ◽  
Firm Level ◽  
Level Data ◽  
The Relationship ◽  
Over Time ◽  
Roll Out

This paper examines the effects of deploying digital subscriber line (DSL) broadband on job creation within existing firms. We use spatial information on broadband and firm locations, exploiting geographical and temporal variation in broadband availability in Ireland during 2007-2014. This is linked to a panel of firm-level data on employment and other characteristics. Econometric models are used to explore the relationship between DSL and employment over time and across local economic and industry contexts. We also investigate whether effects might vary depending upon local educational attainment. We find little evidence of a general effect of DSL roll-out on employment in Irish firms.

scholarly journals Job flows, returns to skill, and rent-sharing at the dawn of the new millennium: A firm-level inquiry from the BRICS

2018 ◽  
Vol 7 ◽  
pp. 64
Author(s):  
GEORGIOS A. PANOS ◽  
YONG YANG
Keyword(s):  
South Africa ◽  
Employment Growth ◽  
Job Creation ◽  
Foreign Firms ◽  
Large Firms ◽  
Firm Level ◽  
Exporting Firms ◽  
Brics Countries ◽  
Job Reallocation ◽  
Rent Sharing

We present a firm-level inquiry on labour-demand characteristics in the BRICS economies, using standardized data from the World Bank Enterprise Surveys for the pre-crisis period of 2002-2003. The BRICS countries are the growth champions of that period, with numerous discussions on the effect of growth on inequality and the role of skills on labour-market performance. We examine employment, employment growth and its constituents, as well the returns to skill and the incidence of rent-sharing. We find that SMEs in the BRICS exhibit lower gross employment growth, compared to large firms. Large firms in Brazil, Russia and South Africa are responsible for most of the net job creation. In contrast, small and medium firms in China and India exhibit higher net job creation rates compared to large firms. Younger firms in Brazil, Russia and India generate higher net job creation figures, in contrast to China and South Africa, in which it is the large firms that generate more net new jobs. Foreign firms in China exhibit the highest net job creation, while in Brazil and India domestic firms create most of the new net employment. Private firms are responsible for most of the net job creation and job reallocation in all BRICS counties. The returns to skill are lower in SMEs and young firms, and we find evidence in favour of rent sharing, particularly in Brazil and India, by foreign and exporting firms, and by SMEs in China.

Analysis of Russian firms’ TFP growth in 2009—2015

2018 ◽  
pp. 96-118 ◽  
Author(s):  
E. V. Bessonova
Keyword(s):  
Market Share ◽  
Technology Diffusion ◽  
Firm Level ◽  
Tfp Growth ◽  
Level Data ◽  
Technology Leaders ◽  
Firm Level Data ◽  
Over Time ◽  
Productivity Gap

We study TFP growth in Russia in 2009—2015 using firm-level data. Our results reveal that the productivity gap between technology leaders and lagging firms accumulated over the observed period. Technology diffusion from leaders to less efficient firms in Russia stays rather limited resulting in relatively low average TFP growth. The market share of less efficient firms shrinks over time but they do not exit the market. As a result, scarce recourses stay locked in inefficient production.

scholarly journals John Haltiwanger: recipient of the 2020 Global Award for Entrepreneurship Research

2021 ◽  
Author(s):  
Alex Coad ◽  
Martin Andersson ◽  
Magnus Henrekson ◽  
Sarah Jack ◽  
Mikael Stenkula ◽  
...  
Keyword(s):  
Public Policy ◽  
Economic Development ◽  
Productivity Growth ◽  
Firm Growth ◽  
Job Creation ◽  
Firm Level ◽  
Entrepreneurship Research ◽  
The World ◽  
Job Creation And Destruction

AbstractThe 2020 Global Award for Entrepreneurship Research has been awarded to Professor John Haltiwanger. John Haltiwanger has made significant contributions to the field of entrepreneurship by improving our understanding of job creation and destruction, productivity growth, and the role of small- and medium-sized firms (SMEs) in economic development. He has played a major role in the careful development of large, longitudinal firm-level datasets, and introduced a novel and widely adopted measure of firm growth that addresses previous statistical biases. His work has influenced public policy and national statistical offices around the world.

scholarly journals Local Job Flows in New Zealand

1970 ◽  
Author(s):  
David C Mare ◽  
Jason Timmins
Keyword(s):  
New Zealand ◽  
Employment Growth ◽  
Job Creation ◽  
Labour Markets ◽  
Job Flows ◽  
Local Labour Markets ◽  
Local Labour ◽  
Job Creation And Destruction

Small changes in the level of employment are generally the result of a large number of jobs being created and a roughly balancing number of jobs being destroyed In this paper we examine patterns of job creation and destruction for local labour markets in New Zealand between 1987 and 2003. The growth or decline of employment in local labour markets is far from homogeneous. The paper focuses on whether local labour markets experience greater employment growth following periods of high rates of simultaneous job creation and destruction (job churn). However, we find little evidence to support this hypothesis. The estimated effect of the level of job churn on future employment growth, within labour markets, was found to be statisticallyand economically insignificant.

scholarly journals Job Creation and Destruction

1997 ◽  
Vol 64 (1) ◽  
pp. 371
Author(s):  
Charles J. Whalen ◽  
Steven J. Davis ◽  
John C. Haltiwanger ◽  
Scott Schuh
Keyword(s):  
Job Creation ◽  
Job Creation And Destruction
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