Does product complexity matter for firms' output volatility?
Abstract
With this paper we provide the first micro-level evidence on the linkage between firm complexity and volatility. By defining product complexity a la Hausmann and Hidalgo (2009), we find that a higher complexity level of a firm's product basket is associated to a reduction of its output fluctuations. This evidence is robust to the control for omitted variables, sample selection, and to the use of alternative volatility and complexity indicators....
Paper Details
Title
Does product complexity matter for firms' output volatility?
Published Date
Jul 1, 2016
Volume
121
Pages
94 - 109
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