This paper documents the cyclical patterns of business entry and exit dynamism in the US using the Business Dynamic Statistics (BDS) dataset. The main finding is that, for both firms and establishments, the entry margin is significantly procyclical while the exit margin shows little cyclicality....

This paper investigates to what extent the R&D behavior of manufacturing companies was influenced by the 2008/09 crisis. Based on a broad official data set for German manufacturing companies, only a few companies that engaged in R&D during 2008 gave it up in the following year. Some companies...

The relationship between large enterprises (LEs) and small and medium enterprises (SMEs) in Japan has undergone major changes during the long-term recession since 1991. While SMEs still play the important role of supplying parts and components to LEs through subcontracting, many LEs have started...

Prognosen lassen erwarten, dass das deutsche Bruttoinlandsprodukt im Jahr 2013 um weniger als 1% wachsen wird. Die Industrie ist insgesamt zuversichtlicher, nur die Autoindustrie rechnet nicht mit überdurchschnittlichen Wachstumsraten. Trotz der europäischen Schuldenkrise und der nachfolgenden...

This paper investigates to what extent the R&D behavior of manufacturing companies was influenced by the 2008/09 crisis. Based on a broad official data set for German manufacturing companies, only a few companies that engaged in R&D during 2008 gave it up in the following year. Some companies...

Die deutsche Gesamtwirtschaft hatte sich 2013 weniger dynamisch entwickelt als erwartet. Vor allem die Ausfuhren wuchsen nach hohen Wachstumsraten in den Vorjahren parallel zum gesamten Welthandel nur langsam. Davon waren auch die Industriebranchen Maschinenbau, Chemie und Elektrotechnik...

Das vergangene Jahr 2014 hat nicht den erwarteten überzeugenden Aufschwung gebracht, sondern tendenziell die Seitwärtsbewegung des Vorjahres fortgesetzt. Für 2015 sehen die einzelnen Branchen weiterhin Unsicherheiten. Auf der einen Seite wird die Entwicklung der Ausfuhren durch die anhaltende...

This paper presents a set of facts on the cyclicality of firm births and deaths in the U.S. during the period 1979--2013. Asymmetry in the cyclicality between firm birth and firm death is observed: aggregate firm birth is generally significantly procyclical, while the (counter-)cyclicality in...

This paper gives new evidence for the importance of bank suspensions during the Great Depression. I establish that more financially dependent manufacturing industries exhibited steeper declines in output relative to peers. This differential is largest in states that were most affected by banking...

The growth of business firms is an example of a system of complex interacting units that resembles complex interacting systems in nature such as earthquakes. Remarkably, work in econophysics has provided evidence that the statistical properties of the growth of business firms follow the same...