TY  - RPRT
        AU  - Abbring, Jaap H.
AU  - Campbell, Jeffrey R.
        TI  - A Structural Empirical Model of Firm Growth, Learning, and Survival
        PY  - 2003/May/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 781
        UR  - https://www.iza.org/index.php/publications/dp781
        AB  - We present a structural model of firm growth, learning, and survival and consider its
identification and estimation. In the model, entrepreneurs have private and possibly errorridden
observations of persistent and transitory shocks to profit. We demonstrate that the
model's parameters can be recovered from public observations of sales and survival, and we
estimate them using monthly data from new bars in Texas. We find that entrepreneurs
observe profit's persistent component without error. In this sense, their information is
substantially superior to the public's.
        KW  - firm dynamics
KW  - Bayesian learning
KW  - identification
KW  - estimation
        ER  -