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THE RISE IN US BUSINESS FAILURES: CORRECTING THE 1984 DATA DISCONTINUITY
Authors:NAPLES  MICHELE I; ARIFAJ  ARBEN
Institution:The College of New Jersey
Field Analyst, Diebold, Inc
Abstract:In 1984 Dun and Bradstreet expanded the business-failure series,making it discontinuous. We construct consistent spliced serieson the rate, size, and liabilities of business failures. Weshow that using published, discontinuous data can lead to misleadingresults.
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