Ejarque, João Miguel; Portugal, Pedro - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
observations
where entry is zero (8902), where exit is zero (8751), and where all (∆L
t
,E,X)
are zero.
Number of firms Job flows=0 …
t
A
T
t
. The transitory component follows
a first order stochastic process, A
T
t
=exp
©
x
T
t
ª
,withx
T
t
= ρx
T
t−1 ….Butwhatdatadowewanttomatch?Herewefocusonthefollowingvector
of moments, X:
Sample Moments μ
cs
(σ) μ
cs
(ρ) ∆L = −1 ∆L =0 ∆L =+1 I(1) EX(1)
Mean 0.795 0.711 885 8160 771 458 1225 …