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Institut für Volkswirtschaftslehre, Leuphana Universität Lüneburg >
Working Paper Series in Economics, Leuphana Universität Lüneburg >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/57131
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| Title: | | The German manufacturing sector is a granular economy  |
| Authors: | | Wagner, Joachim |
| Issue Date: | | 2011 |
| Series/Report no.: | | University of Lüneburg Working Paper Series in Economics 219 |
| Abstract: | | Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research and for economic policy are discussed. |
| Subjects: | | power law idiosyncratic shocks granular residual Germany |
| JEL: | | E1 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Paper Series in Economics, Leuphana Universität Lüneburg
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