首页|Endogenous product scope: Market interlacing and aggregate business cycle dynamics

Endogenous product scope: Market interlacing and aggregate business cycle dynamics

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  • NSTL
  • Elsevier
? 2022 The Author(s)This paper examines a market interlacing industry configuration in general equilibrium with multi-product firms. In contrast to previous studies which utilize market segmentation, firms produce multiple products even in the complete absence of the love of variety. Product scopes are procyclical and entry and exit of firms generates an endogenous amplification mechanism. When simulated by shocks derived from the efficiency and labor wedges, the model replicates the changes in dynamics between the pre- and post 1983 periods, and explains the hours-productivity puzzle.

Business cyclesMulti-product firms

Pavlov O.、Weder M.

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Tasmanian School of Business and Economics University of Tasmania

Centre for Applied Macroeconomic Analysis Australian National University

2022

10.1016/j.euroecorev.2022.104243

European Economic Review

European Economic Review

ISSHP
ISSN：0014-2921
年,卷(期)：2022.148
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