The Within-Distribution Business Cycle Dynamics of German Firms

Sebastian Weber () and Joerg Doepke ()

Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics

Abstract: 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.

Keywords: business cycles; firm growth; markov chains (search for similar items in EconPapers)
JEL-codes: D21 D92 E32 (search for similar items in EconPapers)
Date: 2006-09
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: The within-distribution business cycle dynamics of German firms (2010)
Working Paper: The within-distribution business cycle dynamics of German firms (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ham:qmwops:20609

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