Title

Firm Heterogeneity and Production Flexibility: Evidence from Price-Cost Margins of Large and Small Firm

Document Type

Article

Journal/Book Title/Conference

Bulletin of Economic Research

Volume

45

Publication Date

1993

First Page

229

Last Page

244

Abstract

The distribution of firm sizes is widely recognized as an important aspect of firm heterogeneity. A vast literature has evolved from the early efforts of Modigliani (1958) and Sylos-Labini (1962) that is concerned with explaining why firm size varies across industries. The determinants of the inter-industry distribution of firm size include scale economies, capital requirements, and government policy. Industries with a large minimum efficient scale of output, for example, are less conducive to the entry and survival of small firms (Weiss (1976)).

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