We analyse stylised facts for Germany's business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistics covering, on average, 55,000 firms per year from 1971 to 1998, we estimate transition probabilities of a firm in a certain real sales...

Using a dynamic general equilibrium model, the paper provides a quantitative assessment of the impact of the Multifiber Agreement dismantling on unemployment in Tunisia. The specification of intertemporal behavior of households and firms permits the analysis of the effects of the shock on...

The paper analyses the impact of venture capital finance on growth and innovation activities of young German firms. Among other variables, our panel of firm data includes data on venture capital funding and patent applications. With a statistical matching procedure we draw an adequate control...

The effect of innovations on employment at the firm level is theoretically ambiguous. The present paper analyses this relationship using panel data on German start-up firms as well as German patent data. It employs different indicators of patenting activity. By applying fixed-effects and...

In this paper the outlier robust GMM panel data estimator recently proposed by Lucas, van Dijk, and Kloek (1994)is applied to an Euler equation model of firm investment behaviour with imperfectly competitive product markets for a small panel of German nonfinancial stock companies. Plots for...

In this paper the standard Euler equation investment model with imperfectly competitive product markets is extended for imperfectly competitive structures on the factor markets: labour markets and markets for investment goods. This extension leads to two additional explanatory variables in the...

Die Ergebnisse der multivariaten Analysen zur Beschäftigungsdynamik und dem Wachstumspotential junger innovativer Unternehmen lassen erkennen, daß junge innovative Unternehmen signifikant höhere Wachstumsraten erzielen als junge Unternehmen mit traditionellen Produkten. Die Abschätzung der...

This empirical analysis deals with the determinants of growth and the explanation of variations in the growth between innovative and non-innovative start-ups. Based on theoretical models explaining the growth of firms, hypotheses on potential determinants are formulated. The regression results...

The paper deals with growth determinants of innovative and noninnovative start-ups in Eastern and Western Germany. Based on theoretical approaches explaining the growth of firms, hypotheses on potential determinants are derived. The empirical results indicate strong correlations between average...