The creation of plants and firms
Article Abstract:
A new branching model of firm growth evaluates the establishment of plants and firms. Plants of single-plant companies are smaller and have a lesser survival rates as compared to plants of multi-plant firms in a given industry. The number of plants of a firm is associated with the firm's growth rate and the conditioning on the present firm size and age. A first-order autoregressive process is generated in terms of a computable scalar characterization of the firm.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1997
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Multivariate detrending under common trend restrictions: implications for business cycle research
Article Abstract:
A procedure for detrending multiple time series under common trend restrictions has been derived. The new method can be used not only with the HP filter but with other filtering algorithms such as linear time detrending, exponential smoothing filters and approximate low-pass filters. It has been observed to have no impact on the variance of the log consumption share of output and the log investment share of output when used in an empirical example.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1999
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