Dopke, Jorg; Weber, Sebastian - In: Applied Economics 42 (2010) 29, pp. 3789-3802
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...