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Bottom-up Markup Fluctuations / Ariel Burstein, Vasco M. Carvalho, Basile Grassi.
- Format:
- Book
- Author/Creator:
- Burstein, Ariel.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27958.
- NBER working paper series no. w27958
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- We study markup cyclicality in a granular macroeconomic model with oligopolistic competition. We characterize the comovement of firm, sectoral, and economy-wide markups with sectoral and aggregate output following firm-level shocks. We then quantify the model's ability to reproduce salient features of the cyclical properties of markups in French administrative firm-level data, from the bottom (firm) level to the aggregate level. Our model helps rationalize various, seemingly conflicting, measures of markup cyclicality in the French data.
- Notes:
- Print version record
- October 2020.
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