On business cycles of variety and quality

Reference : On business cycles of variety and quality


	Document type :	E-prints/Working papers : Already available on another site
	Discipline(s) :	Business & economic sciences : Microeconomics
	To cite this reference:	http://hdl.handle.net/10993/15269

Title :	On business cycles of variety and quality
Language :	English
Author, co-author :	Hamano, Masashige [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA) >]
Publication date :	2013
Peer reviewed :	Yes
Keywords :	[en] 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.
Target :	Researchers ; Professionals ; Students
Permalink :	http://hdl.handle.net/10993/15269
source URL :	http://wwwfr.uni.lu/content/download/64761/815888/file/2013-21%20On%20business%20cycles%20of%20variety%20and%20quality.pdf

File(s) associated to this reference

Fulltext file(s):

	File	Commentary	Version	Size	Access
Open access	2013-21 On business cycles of variety and quality.pdf		Author postprint	255.53 kB	View/Open

All documents in ORBi^lu are protected by a user license.