01951cas a2200313 a 4500 AALejournalIMF022228 230101c9999 xx r poo 0 0eng d 5.00 USD 9781616354893 1018-5941 BD-DhAAL BD-DhAAL Grigoli, Francesco. Idiosyncratic Shocks and Aggregate Fluctuations in an Emerging Market / Francesco Grigoli, Emiliano Luttini, Damiano Sandri. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (20 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in previous studies based on advanced economies, despite a higher degree of market concentration in Chile.We show that this finding is explained by larger firms being less volatile and by weaker propagation effects across Chilean firms. Mode of access: Internet Business Cycle, Emerging Markets and Firm-Level Shocks imf Business Fluctuations imf Cycles imf Open Economy Macroeconomics imf Luttini, Emiliano. Sandri, Damiano. IMF Working Papers; Working Paper ; No. 2021/289 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/289/001.2021.issue-289-en.xml IMF e-Library