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Showing 1 to 1 of 1 for “"Granular Responses"”.
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Essays on Macroeconomic Shocks and the Business Cycle
… poor growth. I show that firms' heterogeneous responses to a variety of macroeconomic shocks induce sizeable procyclical skewness in the cross section. Even the cross section of the largest firms in the US economy features skewed responses, such that some very large firms respond surprisingly …