The within-distribution business cycle dynamics of German firms

Abstract: In this paper we analyse stylised facts for Germany’s business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank’s balance sheet statistics covering, on average, 55,000 firms per year from 1971 to 1998, we estimate transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e.g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch in a regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position

Location
Deutsche Nationalbibliothek Frankfurt am Main
Extent
Online-Ressource
Language
Englisch
Notes
Postprint
begutachtet (peer reviewed)
In: Applied Economics ; 42 (2009) 29 ; 3789-

Keyword
Unternehmensentwicklung
Unternehmenswachstum
Konjunktur
Markov-Kette
Schätzung
:z Geschichte 1971-1998
Deutschland

Event
Veröffentlichung
(where)
Mannheim
(when)
2009
Creator

DOI
10.1080/00036840802360120
URN
urn:nbn:de:0168-ssoar-241873
Rights
Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
Last update
14.08.2025, 10:49 AM CEST

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Associated

Time of origin

  • 2009

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