FIRM LEVEL JOB CREATION RATES OVER THE BUSINESS CYCLE
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 6
Abstract
We study the evolution and cyclical dependence of the cross sectional distribution of firm level job creation rates from 1975 to 2004 for the Austrian private sector. The share of firms not adjusting has declined over time, but the share of entries, exits, growing and declining firms increased. The share of firms adjusting is higher in upswings than in downturns and the higher order moments of the job creation distribution follow distinct cyclical patterns. The smallest firms and firms at the extremes of the growth rate distribution are largely unaffected by the business cycle.
Authors and Affiliations
Werner Holzl| Austrian Institute for Economic Research (WIFO), Arsenal Objekt, Wien, Austria, Peter Huber| Austrian Institute for Economic Research (WIFO), Austria and Mendel University Brno, Faculty of Business and Economics
Keywords
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