Modelling Firm and Market Dynamics - A Flexible Model Reproducing Existing Stylized Facts

Thomas Brenner () and Matthias Duschl

No 2014-07, Working Papers on Innovation and Space from Philipps University Marburg, Department of Geography

Abstract: This paper presents a firm and market model 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 so that it can be adapted to certain industries and life-cycle stages. We analyse and discuss the options that are provided by the various parameters in this sense.

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)
Pages: 24 pages
Date: 2014-11-25
New Economics Papers: this item is included in nep-bec and nep-com
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Citations: View citations in EconPapers (1)

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