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Firm Size and Short-Term Dynamics in Aggregate Entry and Exit

Miguel Manjon Antolin ()

Working Papers from Universitat Rovira i Virgili, Department of Economics

Abstract: Much of the research on industry dynamics focuses on the interdependence between the sectorial rates of entry and exit. This paper argues that the size of firms and the reaction-adjustment period are important conditions missed in this literature. I illustrate the effects of this omission using data from the Spanish manufacturing industries between 1994 and 2001. Estimates from systems of equations models provide evidence of a conical revolving door phenomenon and of partial adjustments in the replacement-displacement of large firms. KEYWORDS: aggregation, industry dynamics, panel data, symmetry, simultaneity. JEL CLASSIFICATION: C33, C52, L60, L11

Keywords: Agregació (Estadística); Espanya; Indústries; Anàlisi de dades de pannell; Simetria (Matemàtica) (search for similar items in EconPapers)
Date: 2004
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http://hdl.handle.net/2072/1778

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Journal Article: Firm size and short-term dynamics in aggregate entry and exit (2010) Downloads
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