We replicate the Pesaran, Shin and Smith (2001) bounds testing procedure (BTP), and extend it with 6 new cases, 4 of which involve a quadratic trend. We provide critical values for the BTP of the lagged regressors in levels under the framework of unrestricted error-correction models (UECMs) to...

The relationship of firm size and age to its growth and survival differs according to whether size is measured by sales or employment. Using a large and representative dataset of Greek firms over the period 1999-2014, we find the following patterns. Controlling for age, there is a strong...

We formulate and estimate a structural model of firm investment behavior that specifies the exact channel through which financial frictions bite. The model also allows for the existence of both convex and non-convex costs to adjusting capital. Essentially, we move beyond simply testing and...