Sektorale Spezialisierung wird in Deutschland häufig als eine sinnvolle Option zur Stärkung regionalen Wachstums angesehen: Während viele Städte (z. B. Wolfsburg, Frankfurt am Main) bereits durch starke Konzentration gekennzeichnet sind, versuchen auch andere Regionen solche Zentren zu...

This article uses representative firm-level data for the Austrian manufacturing sector in order to analyse interactions between firm dynamics, export status and turnover productivity.

Whether small businesses create more jobs than large enterprises is a question controversial in empirical economic research. Methodological literature shows that the method used to assign enterprises to size classes is of crucial importance and can lead to biased results. In a comparison of four...

The information and communication technology (ICT) is a cross-section technology. ICT accelerate structural change and has a revitalizing effect especially in advanced economies. For Germany, it is therefore important not to leave behind on the fast growing ICT market and to produce a high...

This paper shows that combining an upper constraint on dividends, a lower constraint on dividends due to shareholder preferences, and an interest rate that increases with the debt ratio leads to a pecking-order financial structure: A typical firm will start to finance a new investment by issuing...

We establish stylised facts for Germany's business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistic covering, on average, 55,000 firms per year from 1971 to 1998, we analyse the reallocation across individual producers and its...

This paper studies the supply and demand for on-the- job training when the success of training is stochastic, firms have to pay hiring costs when they hire skilled workers from the outside, and firms have strictly concave production functions. There are predictions about firm level dynamics and...

The purpose of this paper is to use panel unit root tests to see if Gibrat’s law holds in Turkey. Gibrat's Law establishes that firm growth is a random walk, it means that the probability of a given proportional change in size during a specified period is the same for all firms in a given...

It is often claimed that small and young firms account for a disproportionately large share of net employment growth. We conduct a meta analysis of the empirical evidence regarding whether net employment growth rather is generated by a few rapidly growing firms – so-called Gazelles – that...

Structural vector-autoregressive models are potentially very useful tools for guiding both macro- and microeconomic policy. In this paper, we present a recently developed method for exploiting non-Gaussianity in the data for estimating such models, with the aim of capturing the causal structure...