Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/19658 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Discussion Paper Series 1 No. 2006,29
Verlag: 
Deutsche Bundesbank, Frankfurt a. M.
Zusammenfassung: 
We analyse stylised facts for Germany's business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank's balance sheet statistics covering, on average, 55,000 firms per year from 1971 to 1998, we estimate transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e.g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch in a regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position.
Schlagwörter: 
business cycles
firm growth
Markov chains
JEL: 
D21
D92
E32
Dokumentart: 
Working Paper

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