Diverging trends in macro and micro volatility
Subtitle: facts
By: Diego Comin, Sunil Mulani.
Contributors: Mulani, Sunil.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10922; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10922.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "This paper documents the diverging trends in volatility of the growth rate of sales at the aggregate and firm level.  We establish that the upward trend in micro volatility is not simply driven by a compositional bias in the sample studied.  We argue that this new fact sheds some shadows on the proposed explanations for the decline in aggregate volatility and that, given the symmetry of the diverging trends at the micro and macro level, a common explanation is likely.  We conclude by describing one such theory"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/13/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.