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Journal Article
National summary of business conditions
Working Paper
On the mechanics of firm growth
Given a common technology for replicating blueprints, high-quality blueprints will be replicated more quickly than low-quality blueprints. If quality begets quality, and firms are identifed with collections of blueprints derived from the same initial blueprint, then, along a balanced growth path, Gibrat?s Law holds for every type of firm. A firm size distribution with the thick right tail observed in the data can then arise only when the number of blueprints in the economy grows over time, or else firms cannot grow at a positive rate on average. But when calibrated to match the observed firm ...
Journal Article
National summary of business conditions
Journal Article
Review of the month: recent business and credit developments
Journal Article
Recent business developments
Journal Article
National summary of business conditions
Journal Article
Recent business and credit developments
Journal Article
National summary of business conditions
Journal Article
Increase in business activity and commodity price changes