Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/58813 
Authors: 
Year of Publication: 
2011
Series/Report no.: 
IZA Discussion Papers No. 6115
Publisher: 
Institute for the Study of Labor (IZA), Bonn
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: 
E32
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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