Testing for Conditional Convergence in Variance and Skewness: The Firm Size Distribution Revisited
AbstractThis article derives generalized method of moment-based Wald tests for conditional convergence in terms of the second and third central moments (conditional "σ"- and "ζ"-convergence). Monte Carlo simulations indicate that the proposed tests are properly sized and equipped with enough power for sample sizes in excess of 1,000 observations. We apply the Wald tests to a comprehensive sample of Austrian firms. The estimation results indicate a substantial reduction in both the second and third central moments of log firm size over time for the younger age cohorts. For older ones, the log-normal distribution is a valid description of their size distribution. Copyright (c) Blackwell Publishing Ltd and the Department of Economics, University of Oxford, 2010.
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics and Statistics.
Volume (Year): 72 (2010)
Issue (Month): 5 (October)
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- Peter Huber & Harald Oberhofer & Michael Pfaffermayr, 2014.
"Job creation and the intra-distribution dynamics of the firm size distribution,"
Industrial and Corporate Change,
Oxford University Press, vol. 23(1), pages 171-197, February.
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- Huber, Peter & Oberhofer, Harald & Pfaffermayr , Michael, 2013.
"Who Creates Jobs? Estimating Job Creation Rates at the Firm Level,"
Working Papers in Economics and Finance
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- Peter Huber & Harald Oberhofer & Michael Pfaffermayr, 2012. "Who Creates Jobs? Estimating Job Creation Rates at the Firm Level," WIFO Working Papers 435, WIFO.
- Shahram Amini & Michele Battisti & Christopher F. Parmeter, 2011. "Decomposing The Conditional Variance of Cross-Country Output," Working Papers 2011-18, University of Miami, Department of Economics.
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