Adelaide Research & Scholarship
Please use this identifier to cite or link to this item:
https://hdl.handle.net/2440/72830
| Citations | ||
| Scopus | Web of Science® | Altmetric |
|---|---|---|
|
?
|
?
|
|
| Type: | Journal article |
| Title: | Variety matters |
| Author: | Pavlov, O. Weder, M. |
| Citation: | Journal of Economic Dynamics and Control, 2012; 36(4):629-641 |
| Publisher: | Elsevier Science BV |
| Issue Date: | 2012 |
| ISSN: | 0165-1889 1879-1743 |
| Statement of Responsibility: | Oscar Pavlov, Mark Weder |
| Abstract: | Countercyclical markups are a key transmission mechanism in many endogenous business cycle models. Yet, recent findings suggest that aggregate markups in the US are procyclical. The current model addresses this issue. It extends Galí's (1994) composition of aggregate demand model by endogenous entry and exit of firms and by product variety effects. Endogenous business cycles emerge with procyclical markups that are within empirically plausible ranges. © 2011 Elsevier B.V.. |
| Keywords: | Sunspot equilibria Indeterminacy Markups Variety effects Business cycles |
| Rights: | Copyright © 2011 Elsevier B.V. All rights reserved. |
| DOI: | 10.1016/j.jedc.2011.12.003 |
| Published version: | http://dx.doi.org/10.1016/j.jedc.2011.12.003 |
| Appears in Collections: | Aurora harvest Economics publications |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| RA_hdl_72830.pdf Restricted Access | Restricted Access | 391.37 kB | Adobe PDF | View/Open |
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.