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On business cycles of variety and quality
Hamano, Masashige
2013
 

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Keywords :
entry and exit; fi rm heterogeneity; the Schumpeterian destruction; product quality; business cycles
Abstract :
[en] This paper explores the role played by product variety and quality in a real business cycle model. Firms are heterogeneous in terms of their speci c quality as well as pro- ductivity levels. Firms which have costly technology enter in a period of high aggregated demand and produce high quality goods. Thus, the average quality level and number of available varieties are procyclical, as in the data. The model can replicate the observed in flationary bias in the conventional Consumer Price Index due to a rise in the number of new product varieties and quality.
Disciplines :
Microeconomics
Author, co-author :
Hamano, Masashige ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
Language :
English
Title :
On business cycles of variety and quality
Publication date :
2013
Available on ORBilu :
since 28 January 2014

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