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Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/72830
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dc.contributor.authorPavlov, O.-
dc.contributor.authorWeder, M.-
dc.date.issued2012-
dc.identifier.citationJournal of Economic Dynamics and Control, 2012; 36(4):629-641-
dc.identifier.issn0165-1889-
dc.identifier.issn1879-1743-
dc.identifier.urihttp://hdl.handle.net/2440/72830-
dc.description.abstractCountercyclical 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..-
dc.description.statementofresponsibilityOscar Pavlov, Mark Weder-
dc.language.isoen-
dc.publisherElsevier Science BV-
dc.rightsCopyright © 2011 Elsevier B.V. All rights reserved.-
dc.source.urihttp://dx.doi.org/10.1016/j.jedc.2011.12.003-
dc.subjectSunspot equilibria-
dc.subjectIndeterminacy-
dc.subjectMarkups-
dc.subjectVariety effects-
dc.subjectBusiness cycles-
dc.titleVariety matters-
dc.typeJournal article-
dc.identifier.doi10.1016/j.jedc.2011.12.003-
pubs.publication-statusPublished-
Appears in Collections:Aurora harvest
Economics publications

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