The paper analyzes the relevance of links among firms in explaining the auto-correlation properties of the aggregate rate of growth of firms. This approach relies on the interaction between idiosyncratic shocks of firms and their network structure. The study uses the adjacency matrix...

Using the same data set, a researcher can obtain very different reduced form estimates just by assuming different macroeconomic models. Reiterative Truncated Projected Least Squares (RTPLS) or Variable Slope Generalized Least Squares (VSGLS) can be used to estimate total derivatives that are not...