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@article{ Doepke2009,
 title = {The within-distribution business cycle dynamics of German firms},
 author = {Doepke, Joerg and Weber, Sebastian},
 journal = {Applied Economics},
 number = {29},
 pages = {3789-},
 volume = {42},
 year = {2009},
 doi = {https://doi.org/10.1080/00036840802360120},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-241873},
 abstract = {In this paper we analyse stylised facts for Germany’s business cycle at the firm level. Based on longitudinal firm-level data from the Bundesbank’s balance sheet statistics covering, on average, 55,000 firms per year from 1971 to 1998, we estimate transition probabilities of a firm in a certain real sales growth regime switching to another regime in the next period, e.g. whether a firm that has witnessed a high growth rate is likely to stay in a regime of high growth or is bound to switch in a regime of low growth in the subsequent period. We find that these probabilities depend on the business cycle position},
}