第57回 CARFセミナー：Aggregating Distortions in Networks with Multi-Product Firms

2025年1月30日（木）　10:30 – 12:00

東京大学大学院経済学研究科 学術交流棟 （小島ホール）2階 第3セミナー室

マクロ経済学ワークショップ 2024（CIRJE）

Yasutaka Koike-Mori (University of California, Los Angeles)

Aggregating Distortions in Networks with Multi-Product Firms

We investigate the role of multiproduct firms in shaping resource misallocation and its impact on aggregate total factor productivity (TFP) growth. Using administrative data on product transactions between all formal Chilean firms, we provide evidence that demand shocks to one product affect the production of other products within the same firm, suggesting that firms engage in joint production. We develop a framework to measure resource misallocation in production networks with joint production, deriving non-parametric sufficient statistics to quantify these effects. Applying the framework to Chile, we find that reallocation effects explain 86% of the observed aggregate TFP growth for the 2016-2022 period. Ignoring joint production leads to overestimation of resource misallocation.