The within-distribution business cycle dynamics of German firms
In this article, we analyse stylized facts for Germany's business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistics covering, on average, 55 000 firms per year from 1971 to 1998, we estimate transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e.g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch to a regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position.
Year of publication: |
2010
|
---|---|
Authors: | Dopke, Jorg ; Weber, Sebastian |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 42.2010, 29, p. 3789-3802
|
Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
The within-distribution business cycle dynamics of German firms
Dopke, Jorg, (2010)
-
Exchange Rates During the Crisis
Weber, Sebastian, (2009)
-
Weber, Sebastian, (2011)
- More ...