Firms' Dynamics and Business Cycle: New Disaggregated Data
We provide stylized facts on firms dynamics by disaggregating U.S. yearly data from 1977 to 2013. To this aim, we use an unobserved component-based method, encompassing several classical regression-based techniques currently in use. Our new time series of entry and exit of firms at establishment level are feasible proxies of business cycle. Exit is a leading and countercyclical indicator, while entry is lagging and procyclical. A structural econometric analysis supports the findings of the most recent theoretical literature on firms dynamics. Standard macroeconometric models estimated from our data outperform their equivalents estimated using the existing series.
The purpose of the model presented by Glance et al is to study the ‘contribute vs. free-ride’ dilemma present in organizations. This social dilemma is present on two intertwined levels, the managerial front and the base level of workers. This model also seeks to define a correlation (if one does exist) between worker turnover and productivity rates.