On the granularity of the German economy - first evidence from the top 100 companies panel database
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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On the granularity of the German economy - first evidence from the top 100 companies panel database. / Wagner, Joachim; Weche, John P.
in: Applied Economics Letters, Jahrgang 27, Nr. 21, 14.12.2020, S. 1768 - 1771.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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TY - JOUR
T1 - On the granularity of the German economy - first evidence from the top 100 companies panel database
AU - Wagner, Joachim
AU - Weche, John P.
PY - 2020/12/14
Y1 - 2020/12/14
N2 - Applying the approach suggested by Gabaix (Econometrica 2011) this paper uses the newly available Top 100 Companies Panel Database for Germany to demonstrate that idiosyncratic shocks in the largest firms seem not to be important for an understanding of the aggregate volatility of the German economy. This evidence is in contrast with findings for other countries and it differs from earlier results for parts of the German economy.
AB - Applying the approach suggested by Gabaix (Econometrica 2011) this paper uses the newly available Top 100 Companies Panel Database for Germany to demonstrate that idiosyncratic shocks in the largest firms seem not to be important for an understanding of the aggregate volatility of the German economy. This evidence is in contrast with findings for other countries and it differs from earlier results for parts of the German economy.
KW - Economics
KW - Germany
KW - granular residual
KW - Idiosyncratic shocks
UR - http://www.scopus.com/inward/record.url?scp=85078495647&partnerID=8YFLogxK
U2 - 10.1080/13504851.2020.1722790
DO - 10.1080/13504851.2020.1722790
M3 - Journal articles
AN - SCOPUS:85078495647
VL - 27
SP - 1768
EP - 1771
JO - Applied Economics Letters
JF - Applied Economics Letters
SN - 1350-4851
IS - 21
ER -