We develop a model for decomposing the covariance structure of panel data on firms into a part due to permanent heterogeneity, a part due to differential histories with unknown ages, and a part due to the evolution of economic shocks to the firm. Our model allows for the endogenous death of...

We develop a model for decomposing the covariance structure of panel data on firms into a part due to permanent heterogeneity, a part due to differential histories with unknown ages, and a part due to the evolution of economic shocks to the firm. Our model allows for the endogenous death of...

Die Industriebetriebe erwirtschaften knapp ein Viertel des deutschen Bruttoinlandsprodukts. Der Monatsbericht für Betriebe des Verarbeitenden Gewerbes sowie des Bergbaus und der Gewinnung von Steinen und Erden stellt für diese Betriebe eine Reihe wichtiger Daten bereit. Seit Ende 2006 ist...

Several factor-based models are estimated to investigate the role of country-specific trade and survey data in forecasting euro areamanufacturing production. Following Boivin and Ng (2006), the emphasis is put on the role of dataset selection on the empirical performance of factor models. First,...