| Reference : Endogenous Firm creation and destruction over the business cycle |
| E-prints/Working papers : Already available on another site | |||
| Business & economic sciences : Microeconomics | |||
| http://hdl.handle.net/10993/15267 | |||
| Endogenous Firm creation and destruction over the business cycle | |
| English | |
Hamano, Masashige  [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA) >] | |
| 2013 | |
| Yes | |
| [en] entry and exit ; firm heterogeneity ; the Schumpeterian destruction ; business cycles | |
| [en] This paper revisits Schumpeterian destruction in a DSGE model based on monopolistic
competition. Firms enter the market through a free entry condition and exit endogenously depending on their specific productivity level. The mechanism of endogenous destruction among heterogeneous firms is based on the probabilistic argument discussed in Melitz (2003). The models in the paper are successful in reproducing observed business cycle patterns for creation and destruction and other major economic variables. The models also feature typical characteristics of Schumpeterian economies as found in literature. | |
| Researchers ; Professionals ; Students | |
| http://hdl.handle.net/10993/15267 | |
| http://wwwfr.uni.lu/content/download/61464/719094/file/2013-04%20-%20Endogenous%20firm%20creation%20and%20destruction%20over%20the%20business%20cycle.pdf |
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