Firm Size and Short-Term Dynamics in Aggregate Entry and Exit

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Title:	Firm Size and Short-Term Dynamics in Aggregate Entry and Exit
Author:	Manjón Antolín, Miguel C.
Other authors:	Universitat Rovira i Virgili. Departament d'Economia
Abstract:	Much of the research on industry dynamics focuses on the interdependence between the sectorial rates of entry and exit. This paper argues that the size of firms and the reaction-adjustment period are important conditions missed in this literature. I illustrate the effects of this omission using data from the Spanish manufacturing industries between 1994 and 2001. Estimates from systems of equations models provide evidence of a conical revolving door phenomenon and of partial adjustments in the replacement-displacement of large firms. KEYWORDS: aggregation, industry dynamics, panel data, symmetry, simultaneity. JEL CLASSIFICATION: C33, C52, L60, L11
Publication date:	2004
Subject(s):	-Agregació (Estadística) -Espanya -Indústries -Anàlisi de dades de pannell -Simetria (Matemàtica)
Rights:	Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/)
Document type:	Working Paper
ISSN:	1576 - 3382
Collection:	Documents de treball del Departament d'Economia;2004-4
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