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The German manufacturing sector is a granular economy
Wagner, Joachim - 2011
largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications …
Persistent link: https://www.econbiz.de/10009519874
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The cross-section of firms over the business cycle : new facts and a DSGE exploration
Bachmann, Ruediger; Bayer, Christian - 2009
Using a German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The cross-sectional...
Persistent link: https://www.econbiz.de/10003888063
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Firm-specific productivity risk over the business cycle : facts and aggregate implications
Bachmann, Ruediger; Bayer, Christian - 2009
question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital …
Persistent link: https://www.econbiz.de/10003898815
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Firm-specific productivity risk over the business cycle : facts and aggregate implications
Bachmann, Ruediger; Bayer, Christian - 2009
question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital …
Persistent link: https://www.econbiz.de/10003857672
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The cross-section of firms over the business cycle : new facts and a DSGE exploration
Bachmann, Ruediger; Bayer, Christian - 2009
Using a unique German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The...
Persistent link: https://www.econbiz.de/10003857682
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Uncertainty and change : survey evidence of firms' subjective beliefs
Bachmann, Ruediger; Carstensen, Kai; Lautenbacher, Stefan; … - 2021
, subjective uncertainty closely tracks conditional volatility of shocks: Both exhibit an asymmetric V-shaped relationship with … past growth. In the cross section of firms, however, subjective uncertainty differs from conditional volatility: planning …
Persistent link: https://www.econbiz.de/10012668288
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Uncertainty and Change : Survey Evidence of Firms' Subjective Beliefs
Bachmann, Rüdiger; Carstensen, Kai; Lautenbacher, Stefan; … - 2021
, subjective uncertainty closely tracks conditional volatility of shocks: Both exhibit an asymmetric V-shaped relationship with … past growth. In the cross section of firms, however, subjective uncertainty differs from conditional volatility: planning …
Persistent link: https://www.econbiz.de/10013314695
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Firm Level Productivity, Risk, and Return
Imrohoroglu, Ayse - 2013
This paper provides new evidence about the link between firm level total factor productivity (TFP) and stock returns … market ratio, investment, and hiring rate. Low productivity firms earn a significant premium over high productivity firms in …
Persistent link: https://www.econbiz.de/10013093807
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …
Persistent link: https://www.econbiz.de/10012182809
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …
Persistent link: https://www.econbiz.de/10012215285