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IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >
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http://hdl.handle.net/10419/21458
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| Title: | | A Structural Empirical Model of Firm Growth, Learning, and Survival  |
| Authors: | | Abbring, Jaap H. Campbell, Jeffrey R. |
| Issue Date: | | 2003 |
| Series/Report no.: | | IZA Discussion paper series 781 |
| Abstract: | | We present a structural model of firm growth, learning, and survival and consider its identification and estimation. In the model, entrepreneurs have private and possibly errorridden observations of persistent and transitory shocks to profit. We demonstrate that the model's parameters can be recovered from public observations of sales and survival, and we estimate them using monthly data from new bars in Texas. We find that entrepreneurs observe profit's persistent component without error. In this sense, their information is substantially superior to the public's. |
| Subjects: | | firm dynamics Bayesian learning identification estimation |
| JEL: | | D83 C41 C34 C35 L11 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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