We investigate the role of business dynamism in the transmission of monetary policy by
exploitingthe variation in firm demographics across US states. Using local projections, we …

We study how firm heterogeneity and market power affect macroeconomic fragility, defined
as the probability of long slumps. We propose a theory in which the positive interaction …

The 2017 Tax Cuts and Job Act, touted as the most sweeping reform of the US Federal Tax
Code in decades, has as his centerpiece a robust cut in corporate tax rates and the …

A tanulmány a vállalati dinamika magyarországi stilizált tényeit mutatja be a 2001–2015-ös
időszak adatain. Azt találjuk, hogy a fiatal vállalatok többnyire kisméretűek. Gyorsan …

I study the interaction between risk premiums and lumpy investment in both time-series and
cross-section. To this end, I incorporate an alternative sensitivity function into Campbell & …

The paper studies the effects of technology shocks on the creation and destruction of firms.
Using US data and a VAR model the paper finds Schumpeterian creative destruction for …

This paper reports some stylised facts on firm dynamics in Hungary for the period 2001–
2015. We find that young firms tend to be small. They grow fast, but at the same time they are …

Chapter 1, Market Structure, Labor Share, and Firm Investment. Recent litera ture points out
how industry-level market structure has an impact on firm be havior, such as variations in …

We develop a multi-industry growth model with oligopolistic competition and variable
markups. Our model features a complementarity between capital accumulation and …