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The German manufacturing sector is a granular economy

Wagner, Joachim - 2011

Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...

Persistent link: https://www.econbiz.de/10009519874

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

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

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

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

Determinants of Business Cycles in Small Scale Macroeconomic Models : The German Case

Maußner, Alfred; Spatz, Julius - 2003

We identify measures of shocks to total factor productivity and preferences from two real business cycle models and … German business cycle. For the period 60.i to 89.iv no variable Granger causes the shock measures, and for the period 70.i to … reunification in 1990 and the European Monetary Union in 1999. We, thus, find no evidence to reject the exogeneity of our shock …

Persistent link: https://www.econbiz.de/10014076251