Past Events
Past Events 14. CompNet Annual Conference (Vilnius, 25-26 September 2025) The 14th CompNet Annual Conference, co-hosted with the Bank of Lithuania, took place on 25–26 September…
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10th CompNet Annual Conference
10th CompNet Annual Conference This year CompNet celebrates its 10th Annual Conference, together with Banque de France as co-host, which took place in Paris. The topic of the…
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2020 Annual Conference of the OECD Global Forum of Productivity
2020 Annual Conference of the OECD Global Forum of Productivity This year CompNet celebrates its 10th Annual Conference, together with Banque de France as co-host, which will…
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ProdTalks
CompNet ProdTalks CompNet ProdTalks is a monthly recurring 1.5 hour virtual event, two selected papers will be presented including presentation, discussion and Q&A. The top ic…
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Virtual Conference on Sustainable development, firm performance and competitiveness policies in small open economies
Virtual Conference on Sustainable development, firm performance and competitiveness policies in small open economies This Conference has been jointly organised by CompNet and…
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8th CompNet Annual Conference
From Micro to Macro: Market Power, Firms’ Heterogeneity and Investment 8th Annual Conference of CompNet, jointly organized with IMF, EIB, ENRI and IWH, March 18-19 2019, European…
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1st CompNet Data User Conference
1st CompNet Data User Conference Since it is well established among researchers of productivity and competitiveness that macro data cannot answer all questions emerging in today's…
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2nd FINPRO - Finance and Productivity Conference
2nd FINPRO - Finance and Productivity Conference A conference jointly organised by the Competitiveness Research Network (CompNet), the European Bank for Reconstruction and…
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CompNet-EBRD Workshop
Localization and Productivity CompNet-EBRD Workshop, October 8-9, 2018, European Bank for Reconstruction and Development, London, United Kingdom The workshop of The…
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Declining Business Dynamism in Europe: The Role of Shocks, Market Power, and Responsiveness
Filippo Biondi, Sergio Inferrera, Matthias Mertens, Javier Miranda
VoxEU CEPR,
2024
Abstract
Analysis of business dynamism outside the US has been limited by the availability of comparable cross-country data. This column presents new insights on the trends and drivers of business dynamism using a novel dataset for 19 European countries. Across all 19 countries, the authors document structural declines in job reallocation rates and employment shares in young firms. The decline in job reallocation can be rationalised by both declines in the responsiveness of labour demand to productivity shocks and lower dispersion of productivity innovations. A new decomposition suggests that the decline in responsiveness can be attributed mainly to lower sales growth and stronger markup increases.
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