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- Title
Testing for Conditional Convergence in Variance and Skewness: The Firm Size Distribution Revisited.
- Authors
Huber, Peter; Pfaffermayr, Michael
- Abstract
This article derives generalized method of moment-based Wald tests for conditional convergence in terms of the second and third central moments (conditional σ- and ζ-convergence). Monte Carlo simulations indicate that the proposed tests are properly sized and equipped with enough power for sample sizes in excess of 1,000 observations. We apply the Wald tests to a comprehensive sample of Austrian firms. The estimation results indicate a substantial reduction in both the second and third central moments of log firm size over time for the younger age cohorts. For older ones, the log-normal distribution is a valid description of their size distribution.
- Subjects
BUSINESS size; SAMPLE size (Statistics); STATISTICAL sampling; SAMPLE variance; MATHEMATICAL statistics; COHORT analysis; DATA analysis; SIMULATION methods in testing; NONLINEAR statistical models; MATHEMATICAL models of learning
- Publication
Oxford Bulletin of Economics & Statistics, 2010, Vol 72, Issue 5, p648
- ISSN
0305-9049
- Publication type
Article
- DOI
10.1111/j.1468-0084.2010.00595.x