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dc.contributor.authorCoad, Alexen_US
dc.contributor.authorRao, Rekhaen_US
dc.contributor.authorTamagni, Federicoen_US
dc.description.abstractWe apply a reduced-form vector autoregression model to analyze the growth processes of Italian manufacturing firms, 1989-1997. We focus in particular on lead-lag associations describing the coevolution of employment growth, sales growth, growth of profits and labour productivity growth. Employment growth precedes sales growth and growth of profits, and in turn sales growth is also associated with subsequent profits growth. There appears to be little feedback of either sales or profits on employment growth, however. There is no clear association of employment growth with subsequent changes in labour productivity, although at the second lag there is a small negative association. Productivity growth, however, is positively associated with subsequent growth of employment and sales. Quantile autoregressions find asymmetries between growth processes for growing and shrinking firms.en_US
dc.publisherUniversität Jena und Max-Planck-Institut für Ökonomik Jenaen_US
dc.relation.ispartofseriesJena economic research papers 2008,039en_US
dc.subject.keywordFirm growthen_US
dc.subject.keywordpanel VARen_US
dc.subject.keywordemployment growthen_US
dc.subject.keywordindustrial dynamicsen_US
dc.subject.keywordproductivity growthen_US
dc.subject.stwVerarbeitendes Gewerbeen_US
dc.titleGrowth processes of Italian manufacturing firmsen_US
dc.typeWorking Paperen_US
Appears in Collections:Jena Economic Research Papers (2007-2014), Max-Planck-Institut für Ökonomik und Universität Jena

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