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...

This paper presents a new data set on the number of enterprises, employees, gross output and value added in manufacturing by size category. The figures are obtained from censuses of manufactures and industrial surveys for three years (one year in the 1960s, one year in the 1970s, and one year in...

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...