Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/57131 
Authors: 
Year of Publication: 
2011
Series/Report no.: 
Working Paper Series in Economics No. 219
Publisher: 
Leuphana Universität Lüneburg, Institut für Volkswirtschaftslehre, Lüneburg
Abstract: 
Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research and for economic policy are discussed.
Subjects: 
power law
idiosyncratic shocks
granular residual
Germany
JEL: 
E1
Document Type: 
Working Paper

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