Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75432
Authors: 
Distante, Roberta
Petrella, Ivan
Santoro, Emiliano
Year of Publication: 
2013
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 54.2013
Abstract: 
The cross-sectional dynamics of the U.S. business cycle is examined through the lens of quantile regression models. Conditioning the quantiles of firm-level growth to different measures of technological change highlights a deep connection between counter-cyclical skewness and the transmission of aggregate disturbances. Asymmetry reversals emerge as the dominant source of cyclical variation in the probability density, generating a powerful amplification of aggregate shocks to firm technology. Designing and validating heterogeneous firm business cycle models should necessarily account for this empirical finding.
Subjects: 
Corporate Growth
Conditional Quantiles
Business Cycles
Asymmetry Reversals
JEL: 
C21
E32
Document Type: 
Working Paper

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