Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/128869 
Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
WIFO Working Papers No. 332
Verlag: 
Austrian Institute of Economic Research (WIFO), Vienna
Zusammenfassung: 
This paper studies the serial autocorrelation of annual growth rates in employment for selected Austrian service industries over a 30-year period using quantile regression techniques. The autocorrelation of growth rates provides important information on firms growth processes. We find that the growth patterns of micro firms are strikingly different from the growth patterns of small, medium-sized and larger firms. First, we do find a positive dependency of growth on size for growing micro firms, while this relationship is negative for the other size groups. Second, growing micro firms are subject to negative autocorrelation of annual growth rates making sustained growth a very rate occurrence, while larger growing firms usually display a positive autocorrelation suggesting that high growth episodes of larger firms stretch over a longer time horizon. This indicates that non-convex adjustment costs leading to lumpy growth are much more important for micro firms than for large firms. Furthermore, we find that the autocorrelation patterns are asymmetric with regard to decline and growth.
Schlagwörter: 
serial correlation
firm growth
service sector
quantile regression
Austria
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
534.95 kB





Publikationen in EconStor sind urheberrechtlich geschützt.