Coad, Alex; Rao, Rekha; Tamagni, Federico - 2010
manufacturing firms, 1989-1997, we estimate a reduced-form VAR to analyze the co-evolution of employment growth, sales growth …, growth of profits and labour productivity growth. Our main findings suggest that (i) employment growth precedes sales growth … the existence of (weak) Penrose and (strong) Kaldor-Verdoorn effects, and more generally convey the view that employment …