Bankruptcy as an exit mechanism for systems with a variable number of components

Gatti, DD; Di Guilmi, C; Gaffeo, E; Gallegati, M

Bankruptcy as an exit mechanism for systems with a variable number of components

Gatti, DD Di Guilmi, C

Gaffeo, E Gallegati, M

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Publication Type:: Journal Article
Citation:: Physica A: Statistical Mechanics and its Applications, 2004, 344 (1-2), pp. 8 - 13
Issue Date:: 2004-12-01

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Field	Value	Language
dc.contributor.author	Gatti, DD	en_US
dc.contributor.author	Di Guilmi, C https://orcid.org/0000-0001-7786-039X	en_US
dc.contributor.author	Gaffeo, E	en_US
dc.contributor.author	Gallegati, M	en_US
dc.date.issued	2004-12-01	en_US
dc.identifier.citation	Physica A: Statistical Mechanics and its Applications, 2004, 344 (1-2), pp. 8 - 13	en_US
dc.identifier.issn	0378-4371	en_US
dc.identifier.uri	http://hdl.handle.net/10453/8269
dc.description.abstract	Dynamical systems with components whose sizes evolve according to multiplicative stochastic rules have been recently combined with entry and exit processes. We show that the assumptions usually made in modeling exits are at odds with the available evidence. We discuss a recently proposed macroeconomic model with random multiplicative shocks and a mechanism for exit based on bankruptcy, which displays several observed stylized facts for firms' dynamics, like power law distributions for firms' sizes and Laplace distributions for firms' growth rates. © 2004 Elsevier B.V. All rights reserved.	en_US
dc.relation.ispartof	Physica A: Statistical Mechanics and its Applications	en_US
dc.relation.isbasedon	10.1016/j.physa.2004.06.079	en_US
dc.subject.classification	Fluids & Plasmas	en_US
dc.title	Bankruptcy as an exit mechanism for systems with a variable number of components	en_US
dc.type	Journal Article
utslib.citation.volume	1-2	en_US
utslib.citation.volume	344	en_US
utslib.for	0105 Mathematical Physics	en_US
utslib.for	0102 Applied Mathematics	en_US
utslib.for	0206 Quantum Physics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	closed_access
pubs.issue	1-2	en_US
pubs.publication-status	Published	en_US
pubs.volume	344	en_US

Abstract:

Dynamical systems with components whose sizes evolve according to multiplicative stochastic rules have been recently combined with entry and exit processes. We show that the assumptions usually made in modeling exits are at odds with the available evidence. We discuss a recently proposed macroeconomic model with random multiplicative shocks and a mechanism for exit based on bankruptcy, which displays several observed stylized facts for firms' dynamics, like power law distributions for firms' sizes and Laplace distributions for firms' growth rates. © 2004 Elsevier B.V. All rights reserved.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/8269