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http://hdl.handle.net/10419/57131
  
Title:The German manufacturing sector is a granular economy PDF Logo
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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