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Durable Goods Cycles / Andrew Caplin, John Leahy.
- Format:
- Book
- Author/Creator:
- Caplin, Andrew.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w6987.
- NBER working paper series no. w6987
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1999.
- Summary:
- We show that a straight forward approximation of the distribution of durable goods holdings gives rise to a tractable equilibrium (S,s) model of durable demand. We analyze both competitive and monopoly supply. We show that equilibrium interactions lead to elongated impulse responses in demand, to procyclical markups in response to demand shocks, and to countercyclical markups in response to cost shocks.
- Notes:
- Print version record
- February 1999.
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