Technology Locks, Creative Destruction, and Non-Convergence in Productivity Levels

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Published in RePEc

Abstract

Plant-level data from US textile industries indicate : (1) significant cross-sectional dispersion in plant-level productivity within narrowly defined industries; (2) that highly productive plants grow faster and are less likely to exit; (3) dispersion in productivity is larger in industries with more rapid productivity growth; (4) older plants are bigger; and (5) plant births and closures are common to all four digit textile industries. This paper presents an extended vintage model to explain these facts.

Keywords

PRODUCTIVITY LEVELS PLANT
CREATIVE DESTRUCTION
LEVEL PRODUCTIVITY
TEXTILE INDUSTRIES
TECHNOLOGY LOCKS
PLANT LEVEL
DISPERSION
US TEXTILE

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