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Working Paper
High-growth firms in Georgia
This paper reports the results of a study of the characteristics and direct employment impact of high-growth firms operating in Georgia. The longitudinal data used in this study are from the National Establishment Time-Series (NETS) database. Using a standard definition of high employment growth to classify firms, we track the direct employment contribution of high-growth firms in the state from 1989 to 2009. We find that only a small fraction of firms satisfied the high-growth employment criteria in any year, but these rapidly growing firms made a disproportionately large contribution to ...
Working Paper
Determinants of Differential Rent Changes: Mean Reversion versus the Usual Suspects
We study 2001-2004 and 2004-2007 rent growth of 18,000 rental units, ending our study prior to the Great Recession. Which variables correlate with rent growth: Location? Age? Rent level? Occupancy duration? Structure type? The answers deepen understanding of the rental market, help statistical agencies make decisions about sample stratification and substitution, and expose coverage problems. We document significant rent stickiness. Initial relative rent level is the best predictor, though mainly due to mean reversion. "Location" comes in second, though often not statistically significantly: ...