00000nam 2200000za 4500 9.828460 CaOODSP 20221107145040 cr ||||||||||| 161201s2016 onc ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-5/2016-51E-PDF Karasik, Leonid. Firm-specific shocks and aggregate fluctuations [electronic resource] / by Leonid Karasik, Danny Leung and Ben Tomlin. [Ottawa] : Bank of Canada, c2016. ii, 15 p. Staff Working Paper, 1701-9397 ; 2016-51 "November 2016." Includes bibliographical references. "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 idiosyncratic shocks to large firms. Using data on Canadian firms, 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. Abstract in French. gccst Manufacturing industry gccst Market analysis gccst Economic analysis Tomlin, Ben. Leung, Danny. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2016-51 (CaOODSP)9.806221 PDF 534 KB https://publications.gc.ca/collections/collection_2016/banque-bank-canada/FB3-5-2016-51-eng.pdf