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Entry and Exit, Product Variety and the Business Cycle / Satyajit Chatterjee, Russell Cooper.
- Format:
- Book
- Author/Creator:
- Chatterjee, Satyajit.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4562.
- NBER working paper series no. w4562
- Language:
- English
- Subjects (All):
- Business cycles.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1993.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1993.
- Summary:
- We study the stochastic behavior of a dynamic general equilibrium model with monopolistic competition. Each seller sells his product in the consumption goods as well as the investment goods market and has market power in both. Consumers derive utility from a CES aggregate of all the consumption goods and augment their capital stock by a CES aggregate of all the investment goods. We analyze the equilibrium of this economy allowing for an endogenous determination of the number of firms and therefore of products. The principal effect we highlight is the endogenous propagation and magnification of technology and preference disturbances through product space variations.
- Notes:
- Print version record
- December 1993.
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