【Brownbag】Firm Life Cycle, Endogenous Production Networks, and Frictional Labor Market
2025/11/28
研討會日期 : 2025-11-28
時間 : 12:10
主講人 : Professor Toshiaki Komatsu (小松利明)
地點 : Conference Room B110
演講者簡介 : Professor Toshiaki Komatsu received his Ph.D. in Economics from the University of Chicago in 2024. He is currently an Assistant Professor at National Taiwan University. His research fields are International Trade, Macroeconomics, and Labor Economics.
演講摘要 : We characterize the life cycle of firms in the presence of frictional product and labor markets and investigate their implications on industrial and labor market policies. Using an extensive panel of Belgian microdata on firm-to-firm transaction linkages and workforce composition, we first document how firms grow in supply chains by adding suppliers, customers, and own employees. We show that firm growth in the product and labor markets exhibits life cycle dynamics, driven by both intensive-margin and extensive-margin adjustments to the composition of trade linkages and workers. Guided by the empirical patterns, we develop an equilibrium model of firm dynamics with endogenous buyer-supplier linkages and worker-firm matching. We estimate the model to match key firm life cycle patterns and network characteristics. In our counterfactual analysis, we analyze the effectiveness of various subsidy schemes targeting product and labor markets at different life stages of firms.
