Modeling Firm and Market Dynamics: A Flexible Model Reproducing Existing Stylized Facts on Firm Growth

Thomas Brenner () and Matthias Duschl
Additional contact information
Matthias Duschl: Philipps-Universitat Marburg

Computational Economics, 2018, vol. 52, issue 3, No 3, 745-772

Abstract: Abstract This paper presents a model of firm and market dynamics that is able to reproduce the empirically observed patterns on firm growth and its statistical characteristics. It goes beyond the existing firm models by reproducing all stylized facts established in the literature. Furthermore, the model is flexible in the sense that various parameter settings are identified that reproduce the stylized facts. We identify and discuss different ranges of the model’s parameters that allow for adapting the model to certain industries and life-cycle stages.

Keywords: Firm model; Firm growth; Market model; Industry dynamics (search for similar items in EconPapers)
JEL-codes: C15 L11 L13 L22 L25 O12 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10614-017-9775-4 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:compec:v:52:y:2018:i:3:d:10.1007_s10614-017-9775-4

Ordering information: This journal article can be ordered from
http://www.springer. ... ry/journal/10614/PS2

DOI: 10.1007/s10614-017-9775-4

Access Statistics for this article

Computational Economics is currently edited by Hans Amman

More articles in Computational Economics from Springer, Society for Computational Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().