Business Cycle Fluctuations and Granular Behavior: an Empirical Analysis vs. the Agent-Based Approach 

Blanco Arroyo, Omar (Date of defense: 2022-04-08)

This thesis aims to quantify the granular size of an economy, i.e., the number of granular firms. Empirically, we find that the contribution of idiosyncratic shocks to gross domestic product (GDP) fluctuations is attributed ...