A well-known fact in the time series of aggregate output is the persistence of shocks. This paper argues that the … empirical relation between the expected growth rate of a firm and its size provides a microfoundation of aggregate persistence … aggregate persistence. It does not require changes in either the number of firms in the market or the rate of technological …

processes, and provide information about the persistence and long-memory properties of the series and thus on whether or not the …

-varying volatility of the data generating process can have rather adverse effects when inferring about its persistence; e.g. unit root …

-varying volatility of the data generating process can have rather adverse effects when inferring about its persistence; e.g. unit root …

processes, and provide information about the persistence and long-memory properties of the series and thus on whether or not the …