Large Firms and International Business Cycle Comovement

Julian di Giovanni; Andrei A. Levchenko; Isabelle Mejean

doi:10.1257/aer.p20171006

Large Firms and International Business Cycle Comovement

Julian di Giovanni¹; Andrei A. Levchenko²; Isabelle Mejean³

¹ ICREA, Universitat Pompeu Fabra, Ramon Trias Fargas 25-27, 08005 Barcelona, Spain, Barcelona GSE, CREI, and CEPR (e-mail: ) · ² University of Michigan, 611 Tappan Street, Ann Arbor, MI 48105, NBER, and CEPR (e-mail: ) · ³ Ecole Polytechnique, 91128 Palaiseau Cedex, France, and CEPR (e-mail: )

American Economic Review 2017

This paper investigates the role of the top 100 firms in France in aggregate business cycle comovement. We establish that the top 100 firms (i) are important in aggregate; (ii) exhibit stronger international linkages than the rest of the economy; and (iii) contribute substantially to aggregate comovement.

DOI: 10.1257/aer.p20171006
Volume: 107 (5)
Pages: 598-602
Language: en
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