Ghosal, Vivek - Abteilung "Wettbewerbsfähigkeit und industrieller … - 2003
This paper examines the role played by uncertainty and sunk costs on the timeseries fluctuations in industry structure … conjunction with higher sunk costs, results in: (i) decrease in the number of small firms and establishments; (ii) less skewed … as a key driver of industry dynamics, our results indicate that uncertainty and sunk costs play a crucial role. Our …