The Within-Distribution Business Cycle Dynamics of German Firms

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 growth regime switching to another regime in the next period. We find that these probabilities depend on the business cycle position.

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Year of publication:	2006-09
Authors:	Weber, Sebastian ; Doepke, Joerg
Institutions:	Institut für Makroökonomie und Wirtschaftspolitik, Fachbereich Volkswirtschaftslehre
Subject:	business cycles \| firm growth \| markov chains

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Extent:	application/pdf
Series:	Quantitative Macroeconomics Working Papers.
Type of publication:	Book / Working Paper
Classification:	E32 - Business Fluctuations; Cycles ; D21 - Firm Behavior ; D92 - Intertemporal Firm Choice and Growth, Investment, or Financing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005582258