Murilo Silva and Sergio Da Silva   ''The Brazilian granular business cycle'' ( 2020, Vol. 40 No.1 )     We investigate whether the granular hypothesis holds for the Brazilian business cycle and find that idiosyncratic shocks to net revenues of the top 100 companies explain about one-third of GDP fluctuations for annual data. Quarterly data cannot dismiss the granular hypothesis either. However, the granular hypothesis seems to break down after the 2008 financial crisis.     Keywords: Business cycle theory, Idiosyncratic micro-level shocks, Granularity JEL: E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) D2 - Production and Organizations: General   Manuscript Received : Jan 13 2020   Manuscript Accepted : Feb 10 2020   This abstract has been downloaded 1075 times                The Full PDF of this paper has been downloaded 173474 times