Fan, Haichao and Xu, Zhiwei and Zou, Wei (2010): Firm Dynamics in News Driven Business Cycle: The Role of Endogenous Survival Rate.
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Abstract
Evidences from structural VAR show that new business formation positively co-moves with output under news shocks. The Jaimovich-Rebelo model augmented with firm dynamics can explain the empirical findings. The key assumption is endogenous survival rates for new entrants.
Item Type: | MPRA Paper |
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Original Title: | Firm Dynamics in News Driven Business Cycle: The Role of Endogenous Survival Rate |
Language: | English |
Keywords: | Firm Dynamics, Aggregate Co-movement, Expectation-Driven Business Cycle, News Shocks |
Subjects: | E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E22 - Investment ; Capital ; Intangible Capital ; Capacity |
Item ID: | 46570 |
Depositing User: | Zhiwei Xu |
Date Deposited: | 26 Apr 2013 16:37 |
Last Modified: | 29 Sep 2019 01:15 |
References: | 1. Audretsch, D.B., Houweling, P., Thurik A.R., 2000. Firm Survival in the Netherlands. Review of Industrial Organization 16, 1--11. 2. Beaudry, P., Collard, F., Portier, F., 2011. Gold Rush Fever in Business Cycles. Journal of Monetary Economics 58(2), 84-97. 3. Beaudry, P., Lucke, B., 2010. Letting Different Views about Business Cycles Compete. NBER Macroeconomics Annual 2009 24, 413--455. 4. Beaudry, P., Portier, F., 2006. Stock Prices, News, and Economic Fluctuations. American Economic Review 96(4), 1293--1307. 5. Den Hann, W.,J., Kaltenbrunner, G., 2009. Anticipated Growth and Business Cycles in Matching Models. Journal of Monetary Economics 56, 309--327. 6. Hannan, M.T., Carroll, G.R., Dundon, E.A., and Torres, J.C., 1995. Organizational Evolution in a Multinational Context: Entries of Automobile Manufacturers in Belgium, Britain, France, Germany, and Italy. American Sociological Review 60(4), 509--528. 7. Jaimovich, N., Floetotto, M., 2008. Firm Dynamics, Markup Variations and the Business Cycle. Journal of Monetary Economics 55(7), 1238-1252. 8. Jaimovich, N., Rebelo, S., 2009. Can News about the Future Drive the Business Cycle? American Economic Review 99(4), 1097--1118. 9. Karnizova, L., 2010. The Spirit of Capitalism and Expectation-driven Business Cycles. Journal of Monetary Economics 57(6), 739--756. 10. Mata J., Portugal, P., 1994. Life Duration of New Firms. Journal of Industrial Economics 42(3), 227--245. 11. Wang, P., Wen, Y., 2011. Understanding the Effects of Technology Shocks. Review of Economic Dynamics, 14(4), 705-724. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/46570 |
Available Versions of this Item
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Firm Dynamics in News Driven Business Cycle: The Role of Endogenous Survival Rate. (deposited 10 Apr 2011 20:06)
- Firm Dynamics in News Driven Business Cycle: The Role of Endogenous Survival Rate. (deposited 26 Apr 2013 16:37) [Currently Displayed]