Firms' Dynamics and Business Cycle: New Disaggregated Data

Lorenza Rossi and Emilio Zanetti Chini ()

No 141, DEM Working Papers Series from University of Pavia, Department of Economics and Management

Abstract: We provide stylized facts on firms dynamics by disaggregating U.S. yearly data from 1977 to 2013. To this aim, we use an unobserved component-based method, encompassing several classical regression-based techniques currently in use. Our new time series of entry and exit of firms at establishment level are feasible proxies of business cycle. Exit is a leading and countercyclical indicator, while entry is lagging and procyclical. A structural econometric analysis supports the findings of the most recent theoretical literature on firms dynamics. Standard macroeconometric models estimated from our data outperform their equivalents estimated using the existing series.

Keywords: Entry and Exit; State Space; Business Cycle; Disaggregation; SVAR. (search for similar items in EconPapers)
JEL-codes: C13 C32 C40 E30 E32 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2017-06
New Economics Papers: this item is included in nep-bec, nep-ecm, nep-mac and nep-sbm
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http://dem-web.unipv.it/web/docs/dipeco/quad/ps/RePEc/pav/demwpp/DEMWP0141.pdf (application/pdf)

Related works:
Working Paper: Firms Dynamics and Business Cycle: New Disaggregated Data (2018)
Working Paper: Firms’ Dynamics and Business Cycle: New Disaggregated Data (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pav:demwpp:demwp0141

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