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Replication data for: Entry, Exit, Firm Dynamics, and Aggregate Fluctuations

Version
V0
Resource Type
Dataset
Creator
  • Clementi, Gian Luca
  • Palazzo, Berardino
Publication Date
2016-07-01
Description
  • Abstract

    Firm entry and exit amplify and propagate the effects of aggregate shocks, leading to greater persistence and unconditional variation of aggregate quantities. Following a positive aggregate shock, entry rises. As in the data, entrants are small and their initial impact on aggregate dynamics is negligible. However, as the common productivity component reverts to its unconditional mean, the youngsters that survive grow larger, generating a wider and longer expansion than in a scenario without entry or exit. The model also identifies a causal link between the drop in establishments at the outset of the Great Recession and the subsequent slow recovery.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/mac.20150017 (Text)
Publications
  • Clementi, Gian Luca, and Berardino Palazzo. “Entry, Exit, Firm Dynamics, and Aggregate Fluctuations.” American Economic Journal: Macroeconomics 8, no. 3 (July 2016): 1–41. https://doi.org/10.1257/mac.20150017.
    • ID: 10.1257/mac.20150017 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Clementi, Gian Luca; Palazzo, Berardino (2016): Replication data for: Entry, Exit, Firm Dynamics, and Aggregate Fluctuations. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116400