Publications [#344910] of David Berger

Journal Articles

1. Alon, T; Berger, D; Dent, R; Pugsley, B, Older and slower: The startup deficit's lasting effects on aggregate productivity growth, Journal of Monetary Economics, vol. 93 (January, 2018), pp. 68-85 [doi]
   (last updated on 2026/01/17)

   Abstract:
   Declining firm entry and the aging incumbent firms have meaningful implications for sluggish U.S. aggregate productivity growth. We provide a framework to characterize the contributions to industry productivity growth across the firm age distribution then apply it to firm-level Census data. Several findings emerge: the relationship between firm age and productivity growth is downward sloping and convex; the magnitudes are substantial but fade quickly; selection and reallocation predominantly drive higher productivity growth of young firms. Our results suggest a cumulative drag on aggregate productivity of 3.1% since 1980 and are expanded upon with an IV strategy and standard model of firm dynamics.