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Countercyclical markups and news-driven business cycles

journal contribution
posted on 2023-05-18, 21:42 authored by Oscar PavlovOscar Pavlov, Weder, M
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.

History

Publication title

Review of Economic Dynamics

Volume

16

Pagination

371-382

ISSN

1094-2025

Department/School

TSBE

Publisher

Academic Press Inc Elsevier Science

Place of publication

525 B St, Ste 1900, San Diego, USA, Ca, 92101-4495

Rights statement

Copyright 2013 Elsevier Inc.

Repository Status

  • Restricted

Socio-economic Objectives

Macroeconomics not elsewhere classified

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    University Of Tasmania

    Categories

    Keywords

    wxpectations-driven business cyclesmarkups

    Licence

    In Copyright

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