01615cas a2200241 a 4500 AALejournalIMF002671 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874471 1018-5941 BD-DhAAL BD-DhAAL Kim, Se-Jik. Macro Effects of Corporate Restructuring in Japan / Se-Jik Kim. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents a framework for quantitatively evaluating the macroeconomic effects of corporate restructuring and applies it to Japan. Using firm-level financial statement data, it estimates total factor productivity (TFP) of individual Japanese firms. Given the estimated distribution of productivity across firms, the paper simulates the effect of optimal restructuring, that is, reallocation of resources from less-productive firms to more-productive ones, on the dynamic path of aggregate output. The results show that the benefits of restructuring could substantially exceed the costs. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2003/203 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/203/001.2003.issue-203-en.xml IMF e-Library