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http://hdl.handle.net/10419/19608
  

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dc.contributor.authorDöpke, Jörgen_US
dc.contributor.authorFunke, Michaelen_US
dc.contributor.authorHolly, Seanen_US
dc.contributor.authorWeber, Sebastianen_US
dc.coverage.temporal1971-1998en_US
dc.date.accessioned2009-01-28T16:01:25Z-
dc.date.available2009-01-28T16:01:25Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/19608-
dc.description.abstractWe establish some stylised facts for Germany's business cycle at the level of the firm. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistic covering, on average, 55,000 firms per year from 1971 to 1998, we analyse the reallocation across individual producers and, in turn, the connection of this reallocation to aggregate business cycles. The empirical results indicate a pronounced heterogeneity of real sale changes across firms. Moreover, the distribution of growth rates of firm's real sales is influenced by business cycle conditions. In particular, the cross-section skewness of real sales changes is strongly counter-cyclical. The results confirm most of the findings for the UK and the US by Higson et al. (2002, 2004) and are, therefore, robust stylised facts of the business cycle.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,23en_US
dc.subject.jelD21en_US
dc.subject.jelE32en_US
dc.subject.jelD92en_US
dc.subject.ddc330en_US
dc.subject.keywordbusiness cyclesen_US
dc.subject.keywordcross-sectional momentsen_US
dc.subject.keywordfirm growthen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwUmsatzen_US
dc.subject.stwUnternehmensentwicklungen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleThe cross-sectional dynamics of German business cycles: a bird's eye viewen_US
dc.typeWorking Paperen_US
dc.identifier.ppn495865907en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:4217-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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