Countercyclical markups and news-driven business cycles

被引：9

作者：

Pavlov, Oscar ^{[1
]}

Weder, Mark ^{[1
]}

机构：

[1] Univ Adelaide, Sch Econ, Adelaide, SA 5005, Australia

来源：

REVIEW OF ECONOMIC DYNAMICS | 2013年 / 16卷 / 02期

基金：

澳大利亚研究理事会;

关键词：

Expectations-driven business cycles; Markups; INCREASING RETURNS; MONOPOLISTIC COMPETITION; PRODUCTION EXTERNALITIES; FLUCTUATIONS; EXPECTATIONS; SCALE; ECONOMIES; MODELS;

D O I：

10.1016/j.red.2013.02.004

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The standard one-sector real business Cycle model is unable to generate expectations-driven fluctuations. The addition of countercyclical markups and modest investment adjustment costs offers an easy fix to this conundrum. The simulated model replicates the regular features of U.S. aggregate fluctuations. (C) 2013 Elsevier Inc. All rights reserved.

引用

页码：371 / 382

页数：12

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