| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5224 |
| DP5224 What are Firms? Evolution from Birth to Public Companies | |
| Steven Kaplan; Per Strömberg; Berk Sensoy | |
| 发表日期 | 2005-09-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This article summarizes our views on the role of an 'aggregation bias' in explaining the PPP Puzzle, in response to the several papers recently written in reaction to our initial contribution. We discuss in particular the criticisms of Imbs, Mumtaz, Ravn and Rey (2002) presented in Chen and Engel (2005). We show that their contentions are based on: (i) analytical counter-examples which are not empirically relevant; (ii) simulation results minimizing the extent of 'aggregation bias'; (iii) unfounded claims on the impact of measurement errors on our results; and (iv) problematic implementation of small-sample bias corrections. We conclude, as in our original paper, that 'aggregation bias' goes a long way towards explaining the PPP puzzle. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Heterogenous dynamics Relative prices Goods market integration |
| URL | https://cepr.org/publications/dp5224 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534097 |
| 推荐引用方式 GB/T 7714 | Steven Kaplan,Per Strömberg,Berk Sensoy. DP5224 What are Firms? Evolution from Birth to Public Companies. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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