A look at the relationship between industrial dynamics and aggregate fluctuations

  • Domenico Delli Gatti
  • Edoardo Gaffeo
  • Mauro Gallegati
Part of the New Economic Windows book series (NEW)


Starting with the pioneering work of [23], the study of the determinants and the shape of the steady-state distribution of firms’ size has long fascinated economists. While the conventional view received from the seminal work of e.g. [29], [27] and [42] holds that the firms’ size distribution is significantly right-skewed and approximately log-normal, recent empirical research has lent support to the view suggested by H. Simon and his co-author ([32]), according to whom a Pareto-Levy (or power law) distribution seems to return a better fit to the data for the whole distribution ([3]), or at least for its upper tail (Ramsden and Kiss-Haypal, 2000; [18]).


Business Cycle Real Wage Equity Market Bankruptcy Cost Private Equity Fund 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer-Verlag Italia 2009

Authors and Affiliations

  • Domenico Delli Gatti
    • 1
  • Edoardo Gaffeo
    • 2
  • Mauro Gallegati
    • 3
  1. 1.Università Cattolica di MilanoItaly
  2. 2.Università di TrentoItaly
  3. 3.Politecnico delle MarcheItaly

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