Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/202871
Authors: 
Andersen, Svend Greniman
Rozsypal, Filip
Year of Publication: 
2018
Series/Report no.: 
Danmarks Nationalbank Working Papers 132
Abstract: 
We use a new registry micro level data set to study firm dynamics in Denmark. A unique feature of the data allows us to gain more information about older firms (operating for 30+ years), and an important proportion of these firms shows deteriorating productivity and rising exit rates. We find supportive evidence for other US-based stylized facts, such as young firms being more likely to exit and to grow faster over time. However, it seems to take longer for Danish firms to reach maturity. The Danish data also do not show any signs of a slowdown in the entry rate. Finally, we do not find long-run scarring effects on firms entering in recessions. However, fluctuations in the entry rate have persistent effects on the long-run aggregate volume of value added.
Subjects: 
Firm dynamics
firm-level microdata
business cycles
JEL: 
D22
E23
E24
E32
Document Type: 
Working Paper

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