CrossRef
Open Access
2023
3 sitasi
The Impact of Business Cycle Conditions on Firm Dynamics and Composition
Cihan Artunç
Abstrak
This paper estimates the causal impact of short-term aggregate fluctuations in Egypt, 1911–48, using global cotton price shocks. Firm entry was procyclical, and exit was acyclical. There were persistent differences between cohorts over the cycle; expansionary cohorts were of lower quality. The evidence supports models of firm entry with ex-ante heterogeneity. The findings highlight the extensive margin of entry as the primary adjustment mechanism. As a result, recessions had a strong “isolation” effect. This nature of firm entry amplified and propagated temporary price shocks.
Penulis (1)
C
Cihan Artunç
Akses Cepat
Informasi Jurnal
- Tahun Terbit
- 2023
- Bahasa
- en
- Total Sitasi
- 3×
- Sumber Database
- CrossRef
- DOI
- 10.1017/s0022050723000086
- Akses
- Open Access ✓