The German Manufacturing Sector is a Granular Economy

Joachim Wagner

The German Manufacturing Sector is a Granular Economy

Joachim Wagner

Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere

Abstract

Using the approach suggested by Gabaix (Econometrica 2011) this paper
demonstrates that idiosyncratic shocks in the largest firms are important for an
understanding of aggregate volatility in German manufacturing industries. The
implications of this finding for theoretical and empirical research and for economic
policy are discussed.

Originalsprache	Deutsch
Erscheinungsort	Lüneburg
Verlag	Institut für Volkswirtschaftslehre der Universität Lüneburg
Seitenumfang	12
Publikationsstatus	Erschienen - 11.2011

Fachgebiete und Schlagwörter

Empirische Wirtschaftsforschung/Statistik
power law
idiosyncratic shocks
granular residual
Germany

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