On the determination of the granular size of the economy
2018
Blanco-Arroyo, Omar | Ruiz-Buforn, Alba | Vidal-Tomás, David | Alfarano, Simone
Introducing the granular hypothesis, Gabaix (2011) shows that the idiosyncratic shocks of a few “granular” firms account for a significant fraction of aggregate fluctuations of the US business cycle. In the literature, however, the question of how many are the granular firms in an economy is left unanswered. Using Spanish data, in this paper we propose a novel methodology to calibrate the granular size of the economy, i.e. the number of granular firms.
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书目信息
出版者
Elsevier B.V.
其它主题
Idiosyncratic shocks; Business cycle; Granular residual; E32; United states; C20; Granularity index
语言
英语
类型
Journal Article; Text
2024-02-28
MODS