Abowd, John M.; Crépon, Bruno; Kramarz, Francis; … - National Bureau of Economic Research (NBER) - 1995
We develop a model for decomposing the covariance structure of panel data on firms into a part due to permanent heterogeneity, a part due to differential histories with unknown ages, and a part due to the evolution of economic shocks to the firm. Our model allows for the endogenous death of...