This paper investigates the extent to which productivity growth is the result of turnover - the process that shifts output from one firm to another as a result of the competitive process. Turnover occurs because some firms gain market share and others lose it. Some turnover is due to entry and...

This paper investigates the extent to which productivity growth is the result of firm turnover as output is shifted from one firm to another, driven by the competitive process. Turnover occurs as some firms gain market share and others lose it. Some of the resulting turnover is due to entry and...