Firms, Destinations, and Aggregate Fluctuations

@inproceedings{Mjean2013FirmsDA,
  title={Firms, Destinations, and Aggregate Fluctuations},
  author={Isabelle M{\'e}jean and Andrei A. Levchenko and Julian di Giovanni},
  year={2013}
}
This paper uses a database covering the universe of French firms for the period 1990– 2007 to provide a forensic account of the role of individual firms in generating aggregate fluctuations. We set up a simple multi-sector model of heterogeneous firms selling to multiple markets to motivate a theoretically-founded decomposition of firms’ annual sales growth rate into different components. We find that the firm-specific component contributes substantially to aggregate sales volatility, mattering… CONTINUE READING

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