| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16824 |
| DP16824 Idiosyncratic Shocks and Aggregate Fluctuations in an Emerging Market | |
| Francesco Grigoli; Emiliano Luttini; Damiano Sandri | |
| 发表日期 | 2021-12-20 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in previous studies based on advanced economies, despite a higher degree of market concentration in Chile. We show that this finding is explained by larger firms being less volatile and by weaker propagation effects across Chilean firms. |
| 主题 | International Macroeconomics and Finance ; International Trade and Regional Economics ; Monetary Economics and Fluctuations |
| 关键词 | Business cycle Firm-level shocks Granularity Propagation |
| URL | https://cepr.org/publications/dp16824 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545751 |
| 推荐引用方式 GB/T 7714 | Francesco Grigoli,Emiliano Luttini,Damiano Sandri. DP16824 Idiosyncratic Shocks and Aggregate Fluctuations in an Emerging Market. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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