Firm-specific shocks and aggregate fluctuations in the Canadian manufacturing sector, 2000 to 2012 / by Danny Leung, Leonid Karasik, Ben Tomlin.: CS11-0019/384E-PDF
"In order to understand what drives aggregate fluctuations, many macroeconomic models point to aggregate shocks and discount the contribution of firm-specific shocks. Recent research from other developed countries, however, has found that aggregate fluctuations are in part driven by shocks to large firms. Using data on Canadian firms from the T2-LEAP database, which links financial statements from firms’ Corporate Income Tax Returns with employment data from the Longitudinal Employment Analysis Program, this paper examines the contribution of large firms to industry-level fluctuations in gross output, investment and employment in the manufacturing sector. The data suggest that shocks to large firms can explain as much as 46% and 37% of the fluctuations in gross output and investment, respectively, but do not contribute to fluctuations in employment"--Abstract, p. 5.
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| Title | Firm-specific shocks and aggregate fluctuations in the Canadian manufacturing sector, 2000 to 2012 / by Danny Leung, Leonid Karasik, Ben Tomlin. |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Other language editions | [French] |
| Format | Digital text |
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| Description | 19 p. |
| ISBN | 978-0-660-06680-6 |
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| Departmental catalogue number | 11F0019M No. 384 |
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