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Firms in Product Space: Adoption, Growth and Competition


Time: 10:00 am- 11:30 am, Nov. 3rd, 2023

Speaker: Luca Macedoni

(Aarhus University)

Venue: 359s, Overseas Exchange Center, Peking University

Platform: Tencent Meeting

Link: https://meeting.tencent.com/dm/j256hfxIZAbR

Meeting ID: 370-4954-9915



Which products are produced together or potentially produced? Can any firm eventually supply any new demand? Using multi-product production patterns within and across firms, we recover a continuous cost based distance between products and firms. Product distance implies a product adoption path, with each rank of distance decreasing adoption frequency, even controlling for discrete distance from the Harmonized System. When export demand for unproduced products induces domestic adoption, closer firms supply them.  Counterfactual production costs imply measures of Unrealized Revenue and Unrealized Competition.  These predict firm sales growth, scope growth and core focus. If all firms produced all products, consumer welfare would increase by 20-30%.





Professor Luca Macedoni is an Associate Professor in Department of Economics and Business Economics at Aarhus University. His main research areas are international trade and industrial organization. He has specific interests in the effects of regulations in international markets and the role played by superstar firms and multi-product firms. His research has been published in top economics journals such as Journal of International EconomicsInternational Economic Review and Journal of Development Economics and so on. Professor Macedoni obtained his Ph.D. in economics from University of California, Davis in 2017.