| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17659 |
| 来源ID | Working Paper 17659 |
| Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks | |
| Rui Castro; Gian Luca Clementi; Yoonsoo Lee | |
| 发表日期 | 2011-12-15 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We estimate the volatility of plant-level idiosyncratic shocks in the U.S. manufacturing sector. Our measure of volatility is the variation in Revenue Total Factor Productivity which is not explained by either industry- or economy-wide factors, or by establishments' characteristics. Consistent with previous studies, we find that idiosyncratic shocks are much larger than aggregate random disturbances, accounting for about 80% of the overall uncertainty faced by plants. The extent of cross-sectoral variation in the volatility of shocks is remarkable. Plants in the most volatile sector are subject to about six times as much idiosyncratic uncertainty as plants in the least volatile. We provide evidence suggesting that idiosyncratic risk is higher in industries where the extent of creative destruction is likely to be greater. |
| 主题 | Microeconomics ; Households and Firms ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w17659 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575334 |
| 推荐引用方式 GB/T 7714 | Rui Castro,Gian Luca Clementi,Yoonsoo Lee. Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17659.pdf（252KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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