Firm-specific Shocks and Aggregate Fluctuations in the Canadian Manufacturing Sector, 2000 to 2012

Leonid Karasik, Ben Tomlin and Danny Leung

Analytical Studies Branch Research Paper Series from Statistics Canada, Analytical Studies Branch

Abstract:

In order to understand what drives aggregate fluctuations, many macroeconomic models point to aggregate shocks and discount the contribution of firm-specific shocks. Recent research from other developed countries, however, has found that aggregate fluctuations are in part driven by shocks to large firms. Using data on Canadian firms from the T2-LEAP database, which links financial statements from firms? Corporate Income Tax Return with employment data from the Longitudinal Employment Analysis Program, this paper examines the contribution of large firms to industry-level fluctuations in gross output, investment and employment in the manufacturing sector.

Keywords: Business performance and ownership; Economic accounts; Manufacturing (search for similar items in EconPapers)
Date: 2016-11-21
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Persistent link: https://EconPapers.repec.org/RePEc:stc:stcp3e:2016384e

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